Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,015 shares of the financial services provider’s stock after purchasing an additional 544 shares during the period. Kestra Private Wealth Services LLC owned 0.19% of Washington Trust Bancorp worth $1,129,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Washington Trust Bancorp during the 3rd quarter worth about $32,000. Hantz Financial Services Inc. lifted its holdings in shares of Washington Trust Bancorp by 15,152.6% during the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 2,879 shares during the period. Barrett & Company Inc. lifted its holdings in shares of Washington Trust Bancorp by 20.1% during the 3rd quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 787 shares during the period. CWM LLC lifted its holdings in shares of Washington Trust Bancorp by 60.5% during the 3rd quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,902 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Washington Trust Bancorp during the 3rd quarter worth about $209,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in 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. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $30.00 to $34.00 in a report on Tuesday, October 22nd.

Washington Trust Bancorp Trading Up 1.4 %

NASDAQ WASH opened at $32.69 on Friday. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59. The company’s 50 day moving average price is $32.53 and its 200 day moving average price is $32.98. 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 firm has a market capitalization of $629.61 million, a price-to-earnings ratio of -21.09 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating 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%. On average, sell-side analysts predict that Washington Trust Bancorp, Inc. will post 2.69 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.56 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.24 annualized dividend and a yield of 6.85%. Washington Trust Bancorp’s payout ratio is -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.