13,885 Shares in Washington Trust Bancorp, Inc. $WASH Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,885 shares of the financial services provider’s stock, valued at approximately $507,000. Legal & General Group Plc owned about 0.07% of Washington Trust Bancorp at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Washington Trust Bancorp by 17.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,708 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Washington Trust Bancorp by 9.8% in the 2nd quarter. Rhumbline Advisers now owns 29,957 shares of the financial services provider’s stock worth $847,000 after buying an additional 2,670 shares during the last quarter. Quantbot Technologies LP bought a new position in Washington Trust Bancorp during the second quarter valued at about $409,000. Invesco Ltd. grew its position in Washington Trust Bancorp by 3.0% during the second quarter. Invesco Ltd. now owns 304,400 shares of the financial services provider’s stock valued at $8,608,000 after buying an additional 8,938 shares during the period. Finally, First Trust Advisors LP increased its holdings in Washington Trust Bancorp by 10.2% during the second quarter. First Trust Advisors LP now owns 12,949 shares of the financial services provider’s stock worth $366,000 after buying an additional 1,202 shares during the last quarter. Institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Performance

Washington Trust Bancorp stock opened at $39.78 on Wednesday. The company has a market capitalization of $758.60 million, a P/E ratio of 13.81, a PEG ratio of 0.92 and a beta of 0.70. The stock’s 50 day moving average is $38.44 and its 200 day moving average is $35.22. Washington Trust Bancorp, Inc. has a twelve month low of $25.23 and a twelve month high of $40.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.86.

Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results on Monday, July 20th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $60.47 million for the quarter, compared to the consensus estimate of $59.91 million. Washington Trust Bancorp had a net margin of 14.50% and a return on equity of 10.18%. On average, equities research analysts predict that Washington Trust Bancorp, Inc. will post 3.2 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, July 1st. Washington Trust Bancorp’s payout ratio is presently 77.78%.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Washington Trust Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research raised shares of Washington Trust Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, July 23rd. Seaport Research Partners downgraded Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Washington Trust Bancorp currently has an average rating of “Hold” and an average price target of $35.50.

About Washington Trust Bancorp

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.