Legal & General Group Plc reduced its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,656 shares of the financial services provider’s stock after selling 137 shares during the period. Legal & General Group Plc’s holdings in Washington Trust Bancorp were worth $181,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in Washington Trust Bancorp by 0.8% in the first quarter. Alliancebernstein L.P. now owns 23,990 shares of the financial services provider’s stock worth $1,183,000 after buying an additional 200 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Washington Trust Bancorp by 1.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,790 shares of the financial services provider’s stock worth $778,000 after buying an additional 300 shares in the last quarter. Teachers Advisors LLC increased its stake in Washington Trust Bancorp by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 28,812 shares of the financial services provider’s stock worth $1,615,000 after buying an additional 585 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Washington Trust Bancorp by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 16,859 shares of the financial services provider’s stock worth $831,000 after buying an additional 588 shares in the last quarter. Finally, American International Group Inc. increased its stake in Washington Trust Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 9,164 shares of the financial services provider’s stock worth $452,000 after buying an additional 603 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) traded down 0.20% during trading on Friday, hitting $50.50. The stock had a trading volume of 36,719 shares. Washington Trust Bancorp, Inc. has a 1-year low of $38.92 and a 1-year high of $58.30. The firm has a market capitalization of $869.11 million, a P/E ratio of 17.66 and a beta of 0.73. The stock’s 50-day moving average price is $51.96 and its 200 day moving average price is $51.48.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $46.71 million for the quarter. Washington Trust Bancorp had a return on equity of 12.43% and a net margin of 23.86%. On average, analysts anticipate that Washington Trust Bancorp, Inc. will post $2.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were paid a $0.38 dividend. The ex-dividend date was Thursday, June 29th. This represents a $1.52 annualized dividend and a dividend yield of 3.01%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 53.15%.

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Separately, BidaskClub downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday.

In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $52.80, for a total value of $264,000.00. Following the completion of the sale, the chairman now directly owns 57,583 shares in the company, valued at approximately $3,040,382.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,481 shares of company stock valued at $287,630 over the last 90 days. 2.58% of the stock is currently owned by company insiders.

About Washington Trust Bancorp

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.

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Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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