State of New Jersey Common Pension Fund D Has $2.01 Million Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

State of New Jersey Common Pension Fund D reduced its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 32.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,249 shares of the financial services provider’s stock after selling 35,069 shares during the period. State of New Jersey Common Pension Fund D owned about 0.43% of Washington Trust Bancorp worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC grew its holdings in Washington Trust Bancorp by 86.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,585 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 734 shares during the last quarter. CWM LLC lifted its holdings in shares of Washington Trust Bancorp by 29.9% during the second quarter. CWM LLC now owns 3,146 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 725 shares during the period. Quest Partners LLC bought a new stake in shares of Washington Trust Bancorp in the fourth quarter worth $186,000. IFG Advisory LLC acquired a new stake in Washington Trust Bancorp in the second quarter valued at $211,000. Finally, EP Wealth Advisors LLC bought a new position in Washington Trust Bancorp during the 4th quarter worth $259,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Down 4.2 %

Washington Trust Bancorp stock opened at $32.81 on Friday. The firm has a 50 day moving average price of $31.11 and a two-hundred day moving average price of $27.82. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.14 and a current ratio of 1.15. Washington Trust Bancorp, Inc. has a 52-week low of $21.69 and a 52-week high of $34.27. The firm has a market cap of $559.74 million, a price-to-earnings ratio of 12.11 and a beta of 0.79.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, July 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. The business had revenue of $102.66 million for the quarter, compared to analyst estimates of $46.06 million. Washington Trust Bancorp had a net margin of 11.51% and a return on equity of 9.95%. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities analysts predict that Washington Trust Bancorp, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, June 17th.

Washington Trust Bancorp 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.