State of New Jersey Common Pension Fund D Reduces Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASHGet Rating) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,733 shares of the financial services provider’s stock after selling 3,628 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.26% of Washington Trust Bancorp worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC purchased a new position in Washington Trust Bancorp during the 4th quarter valued at about $40,000. Lazard Asset Management LLC grew its holdings in shares of Washington Trust Bancorp by 335.5% during the fourth quarter. Lazard Asset Management LLC now owns 858 shares of the financial services provider’s stock worth $48,000 after buying an additional 661 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter worth about $204,000. Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Washington Trust Bancorp during the fourth quarter worth about $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Washington Trust Bancorp by 270.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,704 shares of the financial services provider’s stock worth $246,000 after buying an additional 3,434 shares in the last quarter. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on WASH. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Compass Point upped their price objective on Washington Trust Bancorp to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Finally, Piper Sandler lowered Washington Trust Bancorp from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Thursday, April 7th.

Washington Trust Bancorp Trading Down 1.8 %

Shares of WASH opened at $53.08 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $920.94 million, a P/E ratio of 12.34 and a beta of 0.77. The stock’s fifty day simple moving average is $49.65 and its 200 day simple moving average is $51.55. Washington Trust Bancorp, Inc. has a twelve month low of $45.60 and a twelve month high of $60.96.

Washington Trust Bancorp (NASDAQ:WASHGet Rating) last announced its quarterly earnings results on Monday, July 25th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 13.84% and a net margin of 31.97%. During the same period in the prior year, the company posted $1.00 earnings per share. On average, equities research analysts forecast that Washington Trust Bancorp, Inc. will post 4.19 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, July 1st were issued a $0.54 dividend. The ex-dividend date was Thursday, June 30th. This represents a $2.16 annualized dividend and a yield of 4.07%. Washington Trust Bancorp’s dividend payout ratio is currently 50.23%.

About Washington Trust Bancorp

(Get Rating)

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers 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 provides various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages and construction loans; commercial and industrial loans; 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.

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Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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