Cwm LLC Has $163,000 Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Cwm LLC boosted its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 60.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,048 shares of the financial services provider’s stock after buying an additional 1,902 shares during the period. Cwm LLC’s holdings in Washington Trust Bancorp were worth $163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in shares of Washington Trust Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after acquiring an additional 59,115 shares during the last quarter. Inspire Advisors LLC bought a new stake in Washington Trust Bancorp in the second quarter valued at about $1,529,000. American Century Companies Inc. increased its holdings in Washington Trust Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock valued at $7,755,000 after purchasing an additional 40,122 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Washington Trust Bancorp by 56.6% in the second quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock valued at $2,979,000 after buying an additional 39,268 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Washington Trust Bancorp by 10.6% during the first quarter. ProShare Advisors LLC now owns 291,461 shares of the financial services provider’s stock worth $7,834,000 after buying an additional 27,979 shares during the last quarter. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Trading Up 3.1 %

Shares of NASDAQ WASH opened at $35.52 on Thursday. The stock has a market cap of $605.97 million, a price-to-earnings ratio of 13.25 and a beta of 0.79. Washington Trust Bancorp, Inc. has a twelve month low of $21.69 and a twelve month high of $36.09. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 3.34. The company’s fifty day moving average is $31.91 and its 200-day moving average is $28.83.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Washington Trust Bancorp had a return on equity of 9.95% and a net margin of 11.51%. The firm had revenue of $103.86 million during the quarter, compared to analysts’ expectations of $47.32 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities research analysts predict that Washington Trust Bancorp, Inc. will post 2.38 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.24 dividend on an annualized basis and a yield of 6.31%. Washington Trust Bancorp’s payout ratio is 83.58%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their price target for the company from $30.00 to $34.00 in a research note on Tuesday.

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.