O Shaughnessy Asset Management LLC Invests $1.60 Million in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

O Shaughnessy Asset Management LLC bought a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,893 shares of the financial services provider’s stock, valued at approximately $1,595,000. O Shaughnessy Asset Management LLC owned 0.26% of Washington Trust Bancorp at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its position in Washington Trust Bancorp by 1.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider’s stock worth $1,129,000 after buying an additional 544 shares during the period. SG Americas Securities LLC grew its stake in shares of Washington Trust Bancorp by 5.9% in the fourth quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 682 shares in the last quarter. Essex Financial Services Inc. increased its position in Washington Trust Bancorp by 10.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 726 shares during the period. LPL Financial LLC raised its stake in Washington Trust Bancorp by 4.2% in the 4th quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 738 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Washington Trust Bancorp in the 3rd quarter valued at about $32,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Performance

NASDAQ WASH opened at $26.43 on Friday. The firm’s 50 day simple moving average is $31.49 and its 200 day simple moving average is $33.02. The firm has a market capitalization of $509.46 million, a price-to-earnings ratio of -17.05 and a beta of 0.80. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a 1 year low of $24.11 and a 1 year high of $40.59.

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

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is presently -144.52%.

Analyst Ratings Changes

WASH has been the subject of several recent research reports. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th.

About Washington Trust Bancorp

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.