Hennessy Advisors Inc. Has $1.88 Million Stock Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Hennessy Advisors Inc. lessened its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the financial services provider’s stock after selling 7,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.31% of Washington Trust Bancorp worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its stake in Washington Trust Bancorp by 0.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,721 shares of the financial services provider’s stock valued at $2,375,000 after acquiring an additional 472 shares during the last quarter. Rhumbline Advisers lifted its stake in Washington Trust Bancorp by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 28,205 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 618 shares during the last quarter. Inspire Advisors LLC grew its holdings in Washington Trust Bancorp by 1.3% during the third quarter. Inspire Advisors LLC now owns 56,499 shares of the financial services provider’s stock worth $1,820,000 after purchasing an additional 733 shares during the period. Barrett & Company Inc. increased its position in Washington Trust Bancorp by 20.1% during the third quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock worth $151,000 after buying an additional 787 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Washington Trust Bancorp in the third quarter valued at approximately $32,000. 65.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WASH has been the subject of several research analyst reports. StockNews.com lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 11th. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $30.00 to $34.00 in a report on Tuesday, October 22nd.

Washington Trust Bancorp Trading Up 1.4 %

Shares of NASDAQ:WASH opened at $32.83 on Friday. Washington Trust Bancorp, Inc. has a 12-month low of $24.11 and a 12-month high of $40.59. The business has a 50 day moving average of $34.34 and a 200-day moving average of $32.55. 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 cap of $632.31 million, a PE ratio of 12.30 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. The business had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. During the same period in the previous year, the company posted $0.65 EPS. As a group, equities research analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 6.82%. The ex-dividend date was Thursday, January 2nd. Washington Trust Bancorp’s dividend payout ratio (DPR) is 83.90%.

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.