Aptus Capital Advisors LLC Boosts Stock Position in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Aptus Capital Advisors LLC boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 15.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,832 shares of the financial services provider’s stock after acquiring an additional 14,028 shares during the quarter. Aptus Capital Advisors LLC owned 0.61% of Washington Trust Bancorp worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Washington Trust Bancorp by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock worth $22,642,000 after acquiring an additional 59,115 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Washington Trust Bancorp during the 2nd quarter valued at about $1,529,000. American Century Companies Inc. increased its position in shares of Washington Trust Bancorp by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock valued at $7,755,000 after purchasing an additional 40,122 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Washington Trust Bancorp by 56.6% during the 2nd quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock valued at $2,979,000 after purchasing an additional 39,268 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Washington Trust Bancorp by 10.6% during the 1st quarter. ProShare Advisors LLC now owns 291,461 shares of the financial services provider’s stock valued at $7,834,000 after purchasing an additional 27,979 shares during the last quarter. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Down 0.9 %

WASH stock opened at $39.33 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $671.36 million, a price-to-earnings ratio of 14.73 and a beta of 0.77. Washington Trust Bancorp, Inc. has a 1-year low of $24.11 and a 1-year high of $40.59. The business has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $30.00.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. Washington Trust Bancorp had a return on equity of 9.55% and a net margin of 11.24%. The firm had revenue of $103.86 million during the quarter, compared to the consensus estimate of $47.32 million. During the same period in the prior year, the company earned $0.65 EPS. Research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.49 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend was Tuesday, October 1st. Washington Trust Bancorp’s payout ratio is currently 83.90%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $30.00 to $34.00 in a report on Tuesday, October 22nd.

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.