Washington Trust Bancorp, Inc. (NASDAQ:WASH) Short Interest Down 67.1% in January

Washington Trust Bancorp, Inc. (NASDAQ:WASH) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 322,600 shares, a decrease of 67.1% from the December 31st total of 980,700 shares. Based on an average daily volume of 178,700 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Trading of Washington Trust Bancorp

Hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Washington Trust Bancorp during the 3rd quarter worth about $32,000. Hantz Financial Services Inc. increased its holdings in shares of Washington Trust Bancorp by 15,152.6% in the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 2,879 shares during the last quarter. Barrett & Company Inc. raised its position in shares of Washington Trust Bancorp by 20.1% in the third 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 lifted its stake 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 buying an additional 1,902 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in Washington Trust Bancorp in the 3rd quarter valued at about $206,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on WASH. StockNews.com downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, January 21st. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

Washington Trust Bancorp Trading Down 1.9 %

Washington Trust Bancorp stock traded down $0.63 during midday trading on Tuesday, hitting $32.30. 23,495 shares of the stock were exchanged, compared to its average volume of 183,756. The company has a fifty day simple moving average of $33.59 and a two-hundred day simple moving average of $32.85. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $622.02 million, a PE ratio of 12.13 and a beta of 0.81. Washington Trust Bancorp has a 52 week low of $24.11 and a 52 week high of $40.59.

Washington Trust Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.56 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a yield of 6.94%. Washington Trust Bancorp’s payout ratio is 83.90%.

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.