Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,479 shares of the financial services provider’s stock after buying an additional 9,084 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.56% of Washington Trust Bancorp worth $3,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WASH. Barrett & Company Inc. lifted its position in Washington Trust Bancorp by 37.7% in the third quarter. Barrett & Company Inc. now owns 4,010 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 1,097 shares during the period. SG Americas Securities LLC acquired a new stake in Washington Trust Bancorp in the fourth quarter worth approximately $179,000. Retirement Planning Co of New England Inc. bought a new position in shares of Washington Trust Bancorp in the third quarter valued at $240,000. Coastline Trust Co bought a new position in shares of Washington Trust Bancorp in the fourth quarter valued at $353,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Washington Trust Bancorp by 3.6% in the third quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock valued at $542,000 after buying an additional 715 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Seaport Res Ptn cut Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, January 31st. StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $26.14 on Friday. The company’s fifty day moving average is $25.76 and its two-hundred day moving average is $27.21. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. Washington Trust Bancorp, Inc. has a 12-month low of $21.69 and a 12-month high of $33.96. The company has a market cap of $445.16 million, a P/E ratio of 9.65 and a beta of 0.81.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.22. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.18%. The business had revenue of $45.96 million for the quarter, compared to the consensus estimate of $47.38 million. Equities analysts expect that Washington Trust Bancorp, Inc. will post 2.09 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.57%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

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.