Connecticut Wealth Management LLC Has $214,000 Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Connecticut Wealth Management LLC lessened its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 17.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,615 shares of the financial services provider’s stock after selling 1,428 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Washington Trust Bancorp were worth $214,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Washington Trust Bancorp during the fourth quarter worth approximately $179,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of Washington Trust Bancorp during the third quarter worth $240,000. Coastline Trust Co bought a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at about $353,000. PNC Financial Services Group Inc. grew its stake 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 acquiring an additional 715 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in Washington Trust Bancorp by 37.0% during the third quarter. Kestra Private Wealth Services LLC now owns 27,974 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 7,562 shares during the period. Institutional investors own 65.81% of the company’s stock.

Analyst Upgrades and Downgrades

WASH has been the topic of a number of analyst reports. Seaport Res Ptn downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th.

Washington Trust Bancorp Price Performance

NASDAQ WASH traded up $0.07 on Monday, hitting $26.61. 43,219 shares of the company’s stock were exchanged, compared to its average volume of 89,513. The stock has a 50-day moving average of $25.73 and a 200-day moving average of $27.21. The stock has a market cap of $453.17 million, a price-to-earnings ratio of 9.79 and a beta of 0.80. Washington Trust Bancorp, Inc. has a 52 week low of $21.69 and a 52 week high of $33.96. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.57.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 8.42%. The ex-dividend date of this dividend was Thursday, March 28th. Washington Trust Bancorp’s payout ratio is 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.