21,549 Shares in Washington Trust Bancorp, Inc. (NASDAQ:WASH) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,549 shares of the financial services provider’s stock, valued at approximately $676,000. Teacher Retirement System of Texas owned 0.11% of Washington Trust Bancorp at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Washington Trust Bancorp in the fourth quarter worth $2,192,000. Proficio Capital Partners LLC bought a new position in Washington Trust Bancorp in the 4th quarter valued at about $1,955,000. Zacks Investment Management acquired a new position in Washington Trust Bancorp during the 3rd quarter valued at about $1,258,000. JPMorgan Chase & Co. increased its stake in Washington Trust Bancorp by 60.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 25,029 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Washington Trust Bancorp by 170.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,126 shares of the financial services provider’s stock worth $913,000 after buying an additional 18,339 shares in the last quarter. Institutional investors own 65.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 14th.

Washington Trust Bancorp Price Performance

NASDAQ:WASH opened at $30.80 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 business’s 50-day moving average price is $31.85 and its 200 day moving average price is $33.13. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The firm has a market cap of $593.70 million, a P/E ratio of -19.87 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. As a group, sell-side analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.27%. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Washington Trust Bancorp Company Profile

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.