Maven Securities LTD Invests $314,000 in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Maven Securities LTD bought a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,000 shares of the financial services provider’s stock, valued at approximately $314,000. Maven Securities LTD owned about 0.05% of Washington Trust Bancorp at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock worth $2,150,000 after buying an additional 25,029 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Washington Trust Bancorp by 5.9% in the 4th quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 682 shares during the period. Hantz Financial Services Inc. grew its position in shares of Washington Trust Bancorp by 15,152.6% during the 4th quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,879 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of Washington Trust Bancorp by 4.6% during the 4th quarter. Brown Lisle Cummings Inc. now owns 28,637 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Washington Trust Bancorp by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 544 shares during the period. Institutional investors and hedge funds own 65.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WASH has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their price objective on Washington Trust Bancorp from $34.00 to $31.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Seaport Res Ptn raised shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 14th.

Washington Trust Bancorp Trading Up 0.7%

NASDAQ WASH opened at $29.80 on Wednesday. The company has a market cap of $574.87 million, a price-to-earnings ratio of -19.23 and a beta of 0.89. Washington Trust Bancorp, Inc. has a twelve month low of $24.70 and a twelve month high of $40.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. The business’s fifty day moving average is $28.72 and its 200 day moving average is $32.03.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, April 21st. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.01). The firm had revenue of $59.07 million for the quarter, compared to the consensus estimate of $53.16 million. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. As a group, sell-side analysts expect that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 7.52%. Washington Trust Bancorp’s payout ratio is -143.59%.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.