Jane Street Group LLC Has $1.18 Million Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Jane Street Group LLC boosted its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 95.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,640 shares of the financial services provider’s stock after purchasing an additional 17,906 shares during the quarter. Jane Street Group LLC owned about 0.21% of Washington Trust Bancorp worth $1,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WASH. Bank of New York Mellon Corp lifted its holdings in shares of Washington Trust Bancorp by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 149,354 shares of the financial services provider’s stock valued at $4,094,000 after purchasing an additional 1,996 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of Washington Trust Bancorp in the second quarter valued at about $211,000. Aptus Capital Advisors LLC lifted its position in shares of Washington Trust Bancorp by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 89,804 shares of the financial services provider’s stock valued at $2,462,000 after purchasing an additional 17,850 shares in the last quarter. Rhumbline Advisers boosted its holdings in Washington Trust Bancorp by 2.2% during the second quarter. Rhumbline Advisers now owns 28,205 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 618 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Washington Trust Bancorp by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 20,100 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,118 shares in the last quarter. Institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Down 2.2 %

Shares of WASH stock opened at $30.76 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The firm has a market cap of $592.35 million, a P/E ratio of 11.52 and a beta of 0.79. The company has a 50 day moving average of $35.62 and a 200-day moving average of $32.02. Washington Trust Bancorp, Inc. has a 12-month low of $24.11 and a 12-month high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $47.32 million. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. During the same period in the prior year, the company earned $0.65 earnings per share. Sell-side analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date is Thursday, January 2nd. Washington Trust Bancorp’s dividend payout ratio is currently 83.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WASH shares. Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $30.00 to $34.00 in a research note on Tuesday, October 22nd. StockNews.com cut Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.