Inscription Capital LLC Acquires Shares of 11,761 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Inscription Capital LLC purchased a new stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,761 shares of the financial services provider’s stock, valued at approximately $604,000.

Several other large investors have also made changes to their positions in WASH. Walthausen & Co. LLC increased its holdings in Washington Trust Bancorp by 26.8% during the second quarter. Walthausen & Co. LLC now owns 78,280 shares of the financial services provider’s stock valued at $4,020,000 after buying an additional 16,530 shares during the period. Geode Capital Management LLC lifted its position in Washington Trust Bancorp by 0.6% during the second quarter. Geode Capital Management LLC now owns 298,790 shares of the financial services provider’s stock valued at $15,342,000 after purchasing an additional 1,737 shares during the period. Vanguard Group Inc. lifted its position in Washington Trust Bancorp by 1.9% during the second quarter. Vanguard Group Inc. now owns 923,113 shares of the financial services provider’s stock valued at $47,401,000 after purchasing an additional 16,932 shares during the period. FMR LLC increased its holdings in Washington Trust Bancorp by 5,611.1% in the second quarter. FMR LLC now owns 571,223 shares of the financial services provider’s stock valued at $29,332,000 after buying an additional 561,221 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in Washington Trust Bancorp by 0.4% in the second quarter. Champlain Investment Partners LLC now owns 748,310 shares of the financial services provider’s stock valued at $38,426,000 after buying an additional 2,835 shares in the last quarter. 72.03% of the stock is owned by hedge funds and other institutional investors.

In other Washington Trust Bancorp news, Director Joseph J. Marcaurele sold 7,807 shares of the business’s stock in a transaction dated Monday, September 27th. The shares were sold at an average price of $54.00, for a total value of $421,578.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph J. Marcaurele sold 756 shares of the company’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $54.00, for a total transaction of $40,824.00. Following the completion of the transaction, the director now owns 59,794 shares in the company, valued at $3,228,876. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,000 shares of company stock valued at $540,000. 2.18% of the stock is owned by corporate insiders.

WASH has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Washington Trust Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Thursday, July 8th. Zacks Investment Research raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 23rd.

WASH stock opened at $54.80 on Thursday. The stock has a market capitalization of $949.14 million, a P/E ratio of 12.74 and a beta of 0.77. The firm has a 50-day simple moving average of $52.32 and a 200-day simple moving average of $52.06. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.79. Washington Trust Bancorp, Inc. has a 52 week low of $31.82 and a 52 week high of $56.20.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Tuesday, July 20th. The financial services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.07). The company had revenue of $55.35 million for the quarter, compared to analysts’ expectations of $57.80 million. Washington Trust Bancorp had a return on equity of 13.93% and a net margin of 29.06%. On average, analysts expect that Washington Trust Bancorp, Inc. will post 4.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 8th. Investors of record on Friday, October 1st were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, September 30th. This represents a $2.08 annualized dividend and a yield of 3.80%. Washington Trust Bancorp’s dividend payout ratio is presently 52.00%.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following 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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