Washington Trust Bancorp, Inc. (NASDAQ:WASH) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC reduced its stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 36,374 shares of the financial services provider’s stock after selling 536 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Washington Trust Bancorp were worth $1,140,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WASH. Wilmington Savings Fund Society FSB acquired a new stake in shares of Washington Trust Bancorp in the 3rd quarter worth approximately $32,000. Barrett & Company Inc. lifted its stake in Washington Trust Bancorp by 20.1% during the third quarter. Barrett & Company Inc. now owns 4,694 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 787 shares during the last quarter. CWM LLC lifted its stake in Washington Trust Bancorp by 60.5% during the third quarter. CWM LLC now owns 5,048 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 1,902 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in Washington Trust Bancorp during the third quarter valued at approximately $206,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Washington Trust Bancorp during the third quarter valued at approximately $209,000. 65.81% of the stock is owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Up 0.4 %

Washington Trust Bancorp stock opened at $32.47 on Friday. The firm has a market cap of $625.37 million, a PE ratio of 12.16 and a beta of 0.81. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s 50 day moving average price is $33.68 and its two-hundred day moving average price is $32.77. Washington Trust Bancorp, Inc. has a twelve month low of $24.11 and a twelve month high of $40.59.

Washington Trust Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.24 annualized dividend and a dividend yield of 6.90%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 83.90%.

Analyst Upgrades and Downgrades

Several analysts recently commented on WASH shares. Piper Sandler raised shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and increased their target price for the company from $30.00 to $34.00 in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 21st.

Washington Trust Bancorp Company 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.