Linden Thomas Advisory Services LLC Lowers Stock Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Linden Thomas Advisory Services LLC reduced its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,374 shares of the financial services provider’s stock after selling 536 shares during the period. Linden Thomas Advisory Services LLC owned about 0.19% of Washington Trust Bancorp worth $1,140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Washington Trust Bancorp by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after buying an additional 59,115 shares during the period. AQR Capital Management LLC grew its stake in shares of Washington Trust Bancorp by 12.3% during the 2nd quarter. AQR Capital Management LLC now owns 136,141 shares of the financial services provider’s stock valued at $3,732,000 after buying an additional 14,910 shares during the period. Renaissance Technologies LLC grew its stake 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 buying an additional 39,268 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of Washington Trust Bancorp by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 103,832 shares of the financial services provider’s stock valued at $3,344,000 after buying an additional 14,028 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Washington Trust Bancorp by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 73,721 shares of the financial services provider’s stock valued at $2,375,000 after buying an additional 472 shares during the period. 65.81% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp Stock Performance

Shares of 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 firm’s 50-day simple moving average is $33.68 and its 200-day simple moving average is $32.77. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. Washington Trust Bancorp, Inc. has a 1 year low of $24.11 and a 1 year high of $40.59.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date was Thursday, January 2nd. Washington Trust Bancorp’s dividend payout ratio is presently 83.90%.

Analysts Set New Price Targets

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

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.