Vanguard Group Inc. raised its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 601,000 shares of the financial services provider’s stock after buying an additional 3,507 shares during the period. Vanguard Group Inc.’s holdings in Washington Trust Bancorp were worth $29,629,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Washington Trust Bancorp during the fourth quarter valued at approximately $7,339,000. BTIM Corp. boosted its stake in Washington Trust Bancorp by 37.1% in the first quarter. BTIM Corp. now owns 193,085 shares of the financial services provider’s stock worth $9,519,000 after buying an additional 52,249 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Washington Trust Bancorp by 11.9% in the first quarter. Principal Financial Group Inc. now owns 380,790 shares of the financial services provider’s stock worth $18,773,000 after buying an additional 40,482 shares during the last quarter. Edge Asset Management Inc. boosted its stake in Washington Trust Bancorp by 4.4% in the first quarter. Edge Asset Management Inc. now owns 681,076 shares of the financial services provider’s stock worth $33,577,000 after buying an additional 28,480 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in Washington Trust Bancorp during the first quarter worth approximately $478,000. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

Washington Trust Bancorp, Inc. (NASDAQ:WASH) traded up 0.91% during midday trading on Friday, reaching $49.75. 13,376 shares of the company’s stock were exchanged. Washington Trust Bancorp, Inc. has a 12-month low of $38.90 and a 12-month high of $58.30. The firm has a 50-day moving average price of $51.88 and a 200 day moving average price of $51.33. The company has a market cap of $856.20 million, a price-to-earnings ratio of 17.40 and a beta of 0.73.

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

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Separately, BidaskClub cut shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 24th.

In other Washington Trust Bancorp news, Chairman Joseph J. Marcaurele sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $52.80, for a total transaction of $264,000.00. Following the transaction, the chairman now directly owns 57,583 shares of the company’s stock, valued at approximately $3,040,382.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 5,481 shares of company stock worth $287,630. Insiders own 2.58% of the company’s stock.

Washington Trust Bancorp Company Profile

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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