Washington Trust Bancorp, Inc. $WASH Stock Holdings Lessened by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lessened its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 79.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,450 shares of the financial services provider’s stock after selling 24,711 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Washington Trust Bancorp were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Washington Trust Bancorp by 114.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 542 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Washington Trust Bancorp by 24.6% during the second quarter. Federated Hermes Inc. now owns 2,130 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 420 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Washington Trust Bancorp by 200.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,578 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Washington Trust Bancorp by 367.2% during the third quarter. Russell Investments Group Ltd. now owns 2,378 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,869 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Washington Trust Bancorp by 35.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,016 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 789 shares in the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Insider Buying and Selling at Washington Trust Bancorp

In other Washington Trust Bancorp news, CFO Ronald S. Ohsberg bought 1,606 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were acquired at an average cost of $31.00 per share, for a total transaction of $49,786.00. Following the transaction, the chief financial officer owned 29,705 shares in the company, valued at approximately $920,855. The trade was a 5.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP James Cannon Brown acquired 32,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average cost of $31.17 per share, for a total transaction of $997,440.00. Following the completion of the acquisition, the executive vice president directly owned 37,280 shares of the company’s stock, valued at approximately $1,162,017.60. This represents a 606.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 36,801 shares of company stock valued at $1,147,293 over the last quarter. 1.30% of the stock is currently owned by insiders.

Washington Trust Bancorp Stock Performance

NASDAQ:WASH traded up $0.06 during mid-day trading on Tuesday, hitting $36.13. 4,216 shares of the company’s stock traded hands, compared to its average volume of 175,959. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.09. Washington Trust Bancorp, Inc. has a 12 month low of $25.23 and a 12 month high of $37.08. The firm has a 50 day moving average of $33.44 and a two-hundred day moving average of $33.05. The firm has a market capitalization of $689.08 million, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.86 and a beta of 0.72.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.11). Washington Trust Bancorp had a return on equity of 9.79% and a net margin of 13.71%.The company had revenue of $57.83 million for the quarter, compared to the consensus estimate of $58.24 million. On average, equities analysts forecast that Washington Trust Bancorp, Inc. will post 3.07 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st will be paid a $0.56 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.2%. Washington Trust Bancorp’s dividend payout ratio is currently 82.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Washington Trust Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Piper Sandler increased their price objective on Washington Trust Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Wall Street Zen lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Zacks Research cut shares of Washington Trust Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Washington Trust Bancorp presently has a consensus rating of “Hold” and an average target price of $34.50.

Washington Trust Bancorp Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.