Savant Capital LLC Invests $210,000 in Washington Trust Bancorp, Inc. $WASH

Savant Capital LLC bought a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,438 shares of the financial services provider’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC bought a new position in Washington Trust Bancorp during the second quarter valued at $33,000. Ransom Advisory Ltd bought a new stake in Washington Trust Bancorp in the first quarter worth $40,000. Federated Hermes Inc. purchased a new stake in shares of Washington Trust Bancorp in the first quarter valued at $53,000. Barrett & Company Inc. boosted its stake in shares of Washington Trust Bancorp by 10.1% during the 2nd quarter. Barrett & Company Inc. now owns 5,646 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 518 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in Washington Trust Bancorp by 112.7% in the second quarter. Hantz Financial Services Inc. now owns 6,289 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 3,332 shares during the last quarter. 65.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WASH. Weiss Ratings reiterated a “hold (c-)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, October 8th. Piper Sandler lowered their price objective on shares of Washington Trust Bancorp from $28.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Washington Trust Bancorp from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.33.

Washington Trust Bancorp Stock Down 0.3%

Shares of Washington Trust Bancorp stock opened at $26.69 on Friday. The company has a market cap of $508.04 million, a P/E ratio of -16.79, a PEG ratio of 0.87 and a beta of 0.95. Washington Trust Bancorp, Inc. has a 52-week low of $24.95 and a 52-week high of $38.89. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm’s 50 day moving average price is $27.99 and its 200-day moving average price is $28.33.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings results on Monday, October 20th. The financial services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. The company had revenue of $56.47 million during the quarter, compared to analysts’ expectations of $56.39 million. Washington Trust Bancorp had a positive return on equity of 8.97% and a negative net margin of 6.22%.During the same period last year, the business posted $0.64 earnings per share. On average, sell-side analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Wednesday, October 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 8.4%. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently -140.88%.

Washington Trust Bancorp Profile

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.