33,280 Shares in Washington Trust Bancorp, Inc. $WASH Purchased by Teton Advisors LLC

Teton Advisors LLC acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the 3rd quarter, Holdings Channel reports. The firm acquired 33,280 shares of the financial services provider’s stock, valued at approximately $962,000.

Several other large investors have also bought and sold shares of WASH. Victory Capital Management Inc. raised its position in shares of Washington Trust Bancorp by 5.5% in the 3rd quarter. Victory Capital Management Inc. now owns 37,551 shares of the financial services provider’s stock worth $1,085,000 after acquiring an additional 1,951 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Washington Trust Bancorp by 18.0% during the third quarter. Intech Investment Management LLC now owns 8,354 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,274 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Washington Trust Bancorp in the third quarter worth $291,000. Vanguard Group Inc. grew its stake in Washington Trust Bancorp by 0.7% in the third quarter. Vanguard Group Inc. now owns 1,140,227 shares of the financial services provider’s stock worth $32,953,000 after purchasing an additional 7,641 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Washington Trust Bancorp by 73.8% in the third quarter. JPMorgan Chase & Co. now owns 44,118 shares of the financial services provider’s stock worth $1,275,000 after purchasing an additional 18,735 shares in the last quarter. 65.81% of the stock is owned by institutional investors.

Washington Trust Bancorp Trading Down 1.3%

NASDAQ:WASH opened at $33.25 on Friday. The company has a market cap of $633.08 million, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.70 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a 50 day simple moving average of $32.81 and a two-hundred day simple moving average of $30.19. Washington Trust Bancorp, Inc. has a 12 month low of $24.95 and a 12 month high of $37.08.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.75 by $0.08. Washington Trust Bancorp had a net margin of 13.26% and a return on equity of 9.75%. The firm had revenue of $59.25 million during the quarter, compared to analyst estimates of $56.38 million. Research analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Friday, January 2nd. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.96%.

Analysts Set New Price Targets

WASH has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Washington Trust Bancorp in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods upped their target price on shares of Washington Trust Bancorp from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Zacks Research upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Wall Street Zen raised shares of Washington Trust Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Piper Sandler set a $32.00 price objective on shares of Washington Trust Bancorp in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.33.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.