Barclays PLC Purchases 16,511 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Barclays PLC increased its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 44.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,315 shares of the financial services provider’s stock after acquiring an additional 16,511 shares during the period. Barclays PLC owned about 0.28% of Washington Trust Bancorp worth $1,717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barrett & Company Inc. grew its stake in Washington Trust Bancorp by 20.1% in the 3rd quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 787 shares during the period. CWM LLC boosted its holdings in shares of Washington Trust Bancorp by 60.5% in the 3rd quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock worth $163,000 after buying an additional 1,902 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Washington Trust Bancorp during the third quarter valued at about $206,000. The Manufacturers Life Insurance Company purchased a new stake in Washington Trust Bancorp during the third quarter worth about $209,000. Finally, Shepherd Financial Partners LLC raised its position in Washington Trust Bancorp by 12.7% in the third quarter. Shepherd Financial Partners LLC now owns 9,061 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 1,019 shares during the period. 65.81% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp Trading Down 3.5 %

Shares of Washington Trust Bancorp stock opened at $29.58 on Friday. The stock has a market capitalization of $569.62 million, a P/E ratio of 11.08 and a beta of 0.81. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s 50-day simple moving average is $34.87 and its 200 day simple moving average is $32.37.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Washington Trust Bancorp had a net margin of 11.24% and a return on equity of 9.55%. The company had revenue of $103.86 million for the quarter, compared to analysts’ expectations of $47.32 million. During the same period in the prior year, the company posted $0.65 EPS. As a group, research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date is Thursday, January 2nd. Washington Trust Bancorp’s payout ratio is currently 83.90%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WASH. StockNews.com lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler raised Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

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.