Geode Capital Management LLC Has $13.28 Million Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Geode Capital Management LLC lessened its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,346 shares of the financial services provider’s stock after selling 794 shares during the period. Geode Capital Management LLC’s holdings in Washington Trust Bancorp were worth $13,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barrett & Company Inc. increased its holdings in Washington Trust Bancorp by 20.1% in the 3rd quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 787 shares in the last quarter. CWM LLC grew its position in shares of Washington Trust Bancorp by 60.5% in the 3rd quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,902 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at about $206,000. The Manufacturers Life Insurance Company bought a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at about $209,000. Finally, IFG Advisory LLC bought a new stake in shares of Washington Trust Bancorp in the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Analyst Upgrades and Downgrades

WASH has been the topic of a number of analyst reports. StockNews.com lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and upped their target price for the company from $30.00 to $34.00 in a research report on Tuesday, October 22nd.

Washington Trust Bancorp Stock Up 1.1 %

Shares of Washington Trust Bancorp stock opened at $31.11 on Tuesday. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50-day moving average is $35.62 and its 200 day moving average is $32.06. The firm has a market cap of $599.09 million, a price-to-earnings ratio of 11.65 and a beta of 0.79.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.56 by $0.08. The company had revenue of $103.86 million for the quarter, compared to analyst estimates of $47.32 million. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. During the same quarter in the prior year, the company earned $0.65 EPS. Equities research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.24 annualized dividend and a yield of 7.20%. Washington Trust Bancorp’s payout ratio is currently 83.90%.

Washington Trust Bancorp Company Profile

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.