Hsbc Holdings PLC increased its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH – Free Report) by 181.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,606 shares of the financial services provider’s stock after acquiring an additional 18,448 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of Washington Trust Bancorp worth $953,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WASH. EverSource Wealth Advisors LLC increased its position in Washington Trust Bancorp by 114.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 542 shares during the period. Federated Hermes Inc. lifted its position in shares of Washington Trust Bancorp by 24.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,130 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 420 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Washington Trust Bancorp by 200.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 1,578 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Washington Trust Bancorp by 367.2% during the third quarter. Russell Investments Group Ltd. now owns 2,378 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,869 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Washington Trust Bancorp by 35.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,016 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 789 shares in the last quarter. 65.81% of the stock is currently owned by institutional investors.
Washington Trust Bancorp Price Performance
Shares of WASH stock opened at $39.23 on Thursday. Washington Trust Bancorp, Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $39.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.98 and a current ratio of 0.99. The firm has a market capitalization of $748.12 million, a price-to-earnings ratio of 13.62, a PEG ratio of 0.93 and a beta of 0.72. The stock’s 50-day simple moving average is $35.33 and its 200-day simple moving average is $33.91.
Washington Trust Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Wednesday, July 1st were issued a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. Washington Trust Bancorp’s dividend payout ratio (DPR) is currently 77.78%.
Analyst Upgrades and Downgrades
WASH has been the subject of a number of recent research reports. Seaport Research Partners downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods increased their target price on Washington Trust Bancorp from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, July 22nd. Piper Sandler lifted their price target on Washington Trust Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Zacks Research raised Washington Trust Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.50.
View Our Latest Analysis on WASH
Washington Trust Bancorp Company 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.
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