Washington Trust Bancorp, Inc. $WASH Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 44.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,945 shares of the financial services provider’s stock after selling 43,478 shares during the period. SG Americas Securities LLC owned 0.29% of Washington Trust Bancorp worth $1,838,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Washington Trust Bancorp during the 4th quarter worth approximately $368,000. Mercer Global Advisors Inc. ADV acquired a new stake in Washington Trust Bancorp during the fourth quarter worth approximately $249,000. EP Wealth Advisors LLC purchased a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at $484,000. Mackenzie Financial Corp purchased a new stake in Washington Trust Bancorp in the 4th quarter valued at about $222,000. Finally, Empowered Funds LLC purchased a new stake in Washington Trust Bancorp in the fourth quarter valued at approximately $299,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WASH shares. Wall Street Zen downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings upgraded shares of Washington Trust Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Zacks Research cut shares of Washington Trust Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler upped their target price on shares of Washington Trust Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.50.

Insider Activity at Washington Trust Bancorp

In related news, CEO Edward O. Handy III purchased 3,195 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $31.32 per share, with a total value of $100,067.40. Following the completion of the acquisition, the chief executive officer directly owned 51,442 shares of the company’s stock, valued at approximately $1,611,163.44. The trade was a 6.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald S. Ohsberg acquired 1,606 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $31.00 per share, with a total value of $49,786.00. Following the completion of the acquisition, the chief financial officer owned 29,705 shares in the company, valued at $920,855. This represents a 5.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 36,801 shares of company stock worth $1,147,293 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Washington Trust Bancorp Price Performance

Shares of NASDAQ WASH opened at $35.56 on Friday. Washington Trust Bancorp, Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $37.08. The business has a 50 day moving average price of $33.24 and a two-hundred day moving average price of $32.98. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.09. The firm has a market cap of $678.13 million, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72.

Washington Trust Bancorp (NASDAQ:WASH) last posted its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.11). The business had revenue of $57.83 million for the quarter, compared to analysts’ expectations of $58.24 million. Washington Trust Bancorp had a return on equity of 9.79% and a net margin of 13.71%. Sell-side analysts expect that Washington Trust Bancorp, Inc. will post 3.07 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Wednesday, July 1st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, July 1st. Washington Trust Bancorp’s payout ratio is 82.05%.

Washington Trust Bancorp 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.