Systematic Financial Management LP reduced its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 154,007 shares of the financial services provider’s stock after selling 1,627 shares during the period. Systematic Financial Management LP owned about 0.89% of Washington Trust Bancorp worth $7,939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. John W. Rosenthal Capital Management Inc. grew its holdings in Washington Trust Bancorp by 4.2% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 60,137 shares of the financial services provider’s stock valued at $2,965,000 after purchasing an additional 2,450 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Washington Trust Bancorp by 13.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 66,743 shares of the financial services provider’s stock valued at $3,291,000 after purchasing an additional 7,886 shares during the period. Edge Asset Management Inc. grew its holdings 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 valued at $33,577,000 after purchasing an additional 28,480 shares during the period. Prudential Financial Inc. grew its holdings in Washington Trust Bancorp by 29.3% in the first quarter. Prudential Financial Inc. now owns 27,789 shares of the financial services provider’s stock valued at $1,370,000 after purchasing an additional 6,300 shares during the period. Finally, Teachers Advisors LLC grew its holdings 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 valued at $1,615,000 after purchasing an additional 585 shares during the period. 59.24% of the stock is currently owned by institutional investors.

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Shares of Washington Trust Bancorp, Inc. (WASH) opened at 50.15 on Monday. Washington Trust Bancorp, Inc. has a one year low of $38.92 and a one year high of $58.30. The firm has a 50-day moving average price of $51.42 and a 200 day moving average price of $50.94. The firm has a market capitalization of $863.08 million, a price-to-earnings ratio of 17.53 and a beta of 0.75.

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

Separately, BidaskClub lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th.

In other news, Chairman Joseph J. Marcaurele sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $52.80, for a total transaction of $264,000.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 2.58% of the company’s stock.

Washington Trust Bancorp 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.

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

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