Washington Trust Bancorp, Inc. (NASDAQ:WASH) Short Interest Update

Washington Trust Bancorp, Inc. (NASDAQ:WASH) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 388,600 shares, a decrease of 13.4% from the February 28th total of 448,500 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 200,500 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On Washington Trust Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Washington Trust Bancorp by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,643 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 319 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of Washington Trust Bancorp by 1.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 36,015 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 544 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Washington Trust Bancorp by 5.9% during the 4th quarter. SG Americas Securities LLC now owns 12,229 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 682 shares during the period. Essex Financial Services Inc. boosted its holdings 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 worth $231,000 after buying an additional 726 shares during the last quarter. Finally, LPL Financial LLC grew its position in Washington Trust Bancorp by 4.2% during the fourth quarter. LPL Financial LLC now owns 18,293 shares of the financial services provider’s stock valued at $573,000 after buying an additional 738 shares during the period. Hedge funds and other institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Up 0.7 %

NASDAQ WASH opened at $30.06 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The business has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $33.10. Washington Trust Bancorp has a 12 month low of $24.11 and a 12 month high of $40.59. The firm has a market capitalization of $579.44 million, a P/E ratio of -19.39 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH) last announced 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%. On average, analysts predict that Washington Trust Bancorp will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.24 annualized dividend and a dividend yield of 7.45%. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Wall Street Analysts Forecast Growth

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

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.