Fiduciary Trust Co. Sells 195 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Fiduciary Trust Co. reduced its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,055 shares of the financial services provider’s stock after selling 195 shares during the period. Fiduciary Trust Co. owned about 0.10% of Washington Trust Bancorp worth $931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. John W. Rosenthal Capital Management Inc. increased its stake in Washington Trust Bancorp by 4.5% during the second quarter. John W. Rosenthal Capital Management Inc. now owns 62,837 shares of the financial services provider’s stock valued at $3,239,000 after purchasing an additional 2,700 shares during the last quarter. Principal Financial Group Inc. increased its stake in Washington Trust Bancorp by 187.5% during the second quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock valued at $56,445,000 after purchasing an additional 714,155 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Washington Trust Bancorp by 13.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 66,743 shares of the financial services provider’s stock valued at $3,291,000 after purchasing an additional 7,886 shares during the last quarter. Edge Asset Management Inc. increased its stake in Washington Trust Bancorp by 4.4% during the first quarter. Edge Asset Management Inc. now owns 681,076 shares of the financial services provider’s stock valued at $33,577,000 after purchasing an additional 28,480 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Washington Trust Bancorp by 29.3% during the first quarter. Prudential Financial Inc. now owns 27,789 shares of the financial services provider’s stock valued at $1,370,000 after purchasing an additional 6,300 shares during the last quarter. 55.29% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp, Inc. (NASDAQ WASH) opened at 55.70 on Friday. The stock has a 50 day moving average price of $51.24 and a 200-day moving average price of $50.73. Washington Trust Bancorp, Inc. has a one year low of $38.92 and a one year high of $58.30. The firm has a market cap of $958.60 million, a P/E ratio of 19.48 and a beta of 0.75.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, July 24th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. Washington Trust Bancorp had a return on equity of 12.43% and a net margin of 23.86%. The business had revenue of $46.71 million during the quarter. Analysts predict that Washington Trust Bancorp, Inc. will post $2.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 29th. This represents a $1.56 annualized dividend and a yield of 2.80%. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.38. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 53.15%.

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In related news, Chairman Joseph J. Marcaurele sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $52.80, for a total transaction of $264,000.00. Following the completion of the sale, the chairman now owns 57,583 shares of the company’s stock, valued at $3,040,382.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,205 shares of company stock valued at $274,607 in the last ninety days. 2.58% of the stock is currently owned by insiders.

Separately, BidaskClub raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.

Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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