AlphaQuest LLC Purchases Shares of 10,999 Washington Trust Bancorp, Inc. (NASDAQ:WASH)

AlphaQuest LLC acquired a new position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,999 shares of the financial services provider’s stock, valued at approximately $345,000. AlphaQuest LLC owned about 0.06% of Washington Trust Bancorp at the end of the most recent quarter.

Several other large investors have also modified their holdings of WASH. Wilmington Savings Fund Society FSB purchased a new stake in Washington Trust Bancorp in the third quarter valued at $32,000. Hantz Financial Services Inc. increased its position in shares of Washington Trust Bancorp by 15,152.6% during the fourth quarter. Hantz Financial Services Inc. now owns 2,898 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,879 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Washington Trust Bancorp in the 3rd quarter valued at about $209,000. Essex Financial Services Inc. boosted its position in shares of Washington Trust Bancorp by 10.9% in the 4th quarter. Essex Financial Services Inc. now owns 7,366 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 726 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Washington Trust Bancorp during the 3rd quarter worth approximately $347,000. Institutional investors and hedge funds own 65.81% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

Washington Trust Bancorp Price Performance

Shares of NASDAQ:WASH opened at $30.85 on Friday. Washington Trust Bancorp, Inc. has a one year low of $24.11 and a one year high of $40.59. The stock has a market capitalization of $594.66 million, a price-to-earnings ratio of -19.90 and a beta of 0.80. The company has a 50-day simple moving average of $31.79 and a 200-day simple moving average of $33.16. 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 (NASDAQ:WASH) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. On average, analysts predict that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current year.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.56 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.24 dividend on an annualized basis and a yield of 7.26%. Washington Trust Bancorp’s dividend payout ratio (DPR) is -144.52%.

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.