California State Teachers Retirement System Decreases Position in Washington Trust Bancorp, Inc. (WASH)

California State Teachers Retirement System cut its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 9.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,522 shares of the financial services provider’s stock after selling 2,800 shares during the period. California State Teachers Retirement System owned about 0.15% of Washington Trust Bancorp worth $1,367,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WASH. Principal Financial Group Inc. lifted its stake in Washington Trust Bancorp by 187.5% in the second quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock worth $56,445,000 after purchasing an additional 714,155 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Washington Trust Bancorp by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 703,417 shares of the financial services provider’s stock worth $36,262,000 after purchasing an additional 2,007 shares during the last quarter. Vanguard Group Inc. lifted its stake in Washington Trust Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 601,000 shares of the financial services provider’s stock worth $29,629,000 after purchasing an additional 3,507 shares during the last quarter. Northern Trust Corp lifted its stake in Washington Trust Bancorp by 2.1% in the second quarter. Northern Trust Corp now owns 526,769 shares of the financial services provider’s stock worth $27,154,000 after purchasing an additional 10,788 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Washington Trust Bancorp by 22.1% in the second quarter. Franklin Resources Inc. now owns 489,191 shares of the financial services provider’s stock worth $25,218,000 after purchasing an additional 88,500 shares during the last quarter. Institutional investors own 55.09% of the company’s stock.

In other news, Director Katherine W. Hoxsie sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.31, for a total transaction of $112,620.00. Following the completion of the transaction, the director now directly owns 24,892 shares of the company’s stock, valued at $1,401,668.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dennis L. Algiere sold 950 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.60, for a total transaction of $53,770.00. Following the completion of the transaction, the senior vice president now directly owns 9,783 shares of the company’s stock, valued at $553,717.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,580 shares of company stock valued at $640,449. Insiders own 2.58% of the company’s stock.

Several research firms have weighed in on WASH. Compass Point downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. BidaskClub downgraded shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th.

Shares of Washington Trust Bancorp, Inc. (NASDAQ WASH) remained flat at $$54.30 during trading hours on Thursday. 20,265 shares of the stock traded hands, compared to its average volume of 37,190. The stock has a market capitalization of $941.12, a P/E ratio of 18.91 and a beta of 0.75. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.09 and a quick ratio of 1.09. Washington Trust Bancorp, Inc. has a 52-week low of $47.00 and a 52-week high of $59.10.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $47.34 million during the quarter. Washington Trust Bancorp had a net margin of 23.63% and a return on equity of 12.44%.

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Washington Trust Bancorp Company Profile

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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