Bank of New York Mellon Corp Has $3.24 Million Holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Bank of New York Mellon Corp reduced its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 23.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 103,315 shares of the financial services provider’s stock after selling 31,747 shares during the quarter. Bank of New York Mellon Corp’s holdings in Washington Trust Bancorp were worth $3,239,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WASH. Zacks Investment Management acquired a new position in Washington Trust Bancorp in the third quarter valued at approximately $1,258,000. JPMorgan Chase & Co. lifted its holdings in Washington Trust Bancorp by 60.0% in the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 25,029 shares during the period. Jane Street Group LLC lifted its holdings in Washington Trust Bancorp by 95.6% in the third quarter. Jane Street Group LLC now owns 36,640 shares of the financial services provider’s stock valued at $1,180,000 after buying an additional 17,906 shares during the period. Barclays PLC lifted its holdings in Washington Trust Bancorp by 44.9% in the third quarter. Barclays PLC now owns 53,315 shares of the financial services provider’s stock valued at $1,717,000 after buying an additional 16,511 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Washington Trust Bancorp in the third quarter valued at approximately $347,000. 65.81% of the stock is currently owned by institutional investors and hedge funds.

Washington Trust Bancorp Stock Up 1.1 %

Shares of NASDAQ:WASH opened at $31.69 on Thursday. Washington Trust Bancorp, Inc. has a 52 week low of $24.11 and a 52 week high of $40.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $610.86 million, a PE ratio of -20.45 and a beta of 0.80. The company has a 50 day moving average price of $31.82 and a two-hundred day moving average price of $33.13.

Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results 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 negative net margin of 6.90% and a positive return on equity of 8.99%. Analysts forecast that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WASH shares. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

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.