Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Acquired by Inspire Advisors LLC

Inspire Advisors LLC lifted its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,694 shares of the financial services provider’s stock after buying an additional 4,195 shares during the period. Inspire Advisors LLC owned approximately 0.32% of Washington Trust Bancorp worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter worth approximately $32,000. Hantz Financial Services Inc. increased 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 buying an additional 2,879 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter worth approximately $209,000. Essex Financial Services Inc. increased its holdings in shares of Washington Trust Bancorp by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock worth $231,000 after buying an additional 726 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter worth approximately $347,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Down 2.9 %

Washington Trust Bancorp stock opened at $29.22 on Tuesday. Washington Trust Bancorp, Inc. has a fifty-two week low of $24.11 and a fifty-two 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 firm has a 50 day moving average price of $31.92 and a 200 day moving average price of $33.24. The company has a market capitalization of $563.24 million, a PE ratio of -18.85 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share 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%. Research analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently announced 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 7.67%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently -144.52%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

Washington Trust Bancorp 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.