Washington Trust Bancorp (NASDAQ:WASH) Hits New 52-Week Low at $34.50

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $34.50 and last traded at $35.21, with a volume of 45317 shares traded. The stock had previously closed at $37.19.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 25th.

Washington Trust Bancorp Trading Down 0.2 %

The business’s 50 day moving average price is $43.97 and its two-hundred day moving average price is $46.91. The company has a market capitalization of $609.69 million, a price-to-earnings ratio of 8.64 and a beta of 0.73. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.04.

Washington Trust Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Tuesday, January 3rd were issued a dividend of $0.56 per share. This is a boost from Washington Trust Bancorp’s previous quarterly dividend of $0.54. The ex-dividend date was Friday, December 30th. This represents a $2.24 annualized dividend and a yield of 6.30%. Washington Trust Bancorp’s payout ratio is presently 54.50%.

Insider Buying and Selling at Washington Trust Bancorp

In other news, Director Constance A. Howes acquired 1,250 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were bought at an average price of $44.01 per share, with a total value of $55,012.50. Following the purchase, the director now owns 3,320 shares of the company’s stock, valued at $146,113.20. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Washington Trust Bancorp

Several hedge funds have recently made changes to their positions in WASH. Richard C. Young & CO. LTD. boosted its holdings in Washington Trust Bancorp by 2.0% during the third quarter. Richard C. Young & CO. LTD. now owns 108,197 shares of the financial services provider’s stock worth $5,029,000 after buying an additional 2,173 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Washington Trust Bancorp by 284.8% during the third quarter. Tower Research Capital LLC TRC now owns 4,749 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 3,515 shares during the period. VELA Investment Management LLC lifted its holdings in shares of Washington Trust Bancorp by 51.8% during the second quarter. VELA Investment Management LLC now owns 28,688 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 9,789 shares during the last quarter. TIAA FSB acquired a new position in shares of Washington Trust Bancorp in the 2nd quarter valued at $209,000. Finally, First Republic Investment Management Inc. increased its stake in Washington Trust Bancorp by 5.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 12,088 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 591 shares in the last quarter. Institutional investors and hedge funds own 71.23% of the company’s stock.

About Washington Trust Bancorp

(Get Rating)

Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.