Zacks Investment Management Purchases 16,228 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Zacks Investment Management increased its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 41.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,298 shares of the financial services provider’s stock after purchasing an additional 16,228 shares during the quarter. Zacks Investment Management owned approximately 0.29% of Washington Trust Bancorp worth $1,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $6,824,000. Wellington Management Group LLP acquired a new stake in Washington Trust Bancorp during the 4th quarter worth $4,853,000. Vanguard Group Inc. raised its position in shares of Washington Trust Bancorp by 10.6% during the 4th quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider’s stock valued at $32,395,000 after acquiring an additional 98,802 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Washington Trust Bancorp during the 4th quarter valued at $2,597,000. Finally, Prudential Financial Inc. lifted its stake in shares of Washington Trust Bancorp by 1,154.4% in the 4th quarter. Prudential Financial Inc. now owns 86,729 shares of the financial services provider’s stock valued at $2,719,000 after purchasing an additional 79,815 shares during the period. 65.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Washington Trust Bancorp Trading Up 0.3 %

WASH opened at $27.21 on Friday. The firm’s fifty day moving average is $29.99 and its two-hundred day moving average is $32.56. The firm has a market cap of $524.50 million, a PE ratio of -17.55 and a beta of 0.76. Washington Trust Bancorp, Inc. has a twelve month low of $24.44 and a twelve month 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.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 EPS 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%. Equities research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 8.23%. The ex-dividend date of this dividend was Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is -144.52%.

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.