Washington Trust Bancorp, Inc. $WASH Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 36.7% in the third quarter, HoldingsChannel reports. The fund owned 100,280 shares of the financial services provider’s stock after buying an additional 26,948 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Washington Trust Bancorp were worth $2,898,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Washington Trust Bancorp by 17.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,708 shares during the period. CWM LLC raised its stake in Washington Trust Bancorp by 6.2% during the second quarter. CWM LLC now owns 12,501 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 734 shares during the period. AlphaQuest LLC acquired a new position in shares of Washington Trust Bancorp in the 2nd quarter valued at $33,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Washington Trust Bancorp during the 2nd quarter valued at $206,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Washington Trust Bancorp by 112.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 6,289 shares of the financial services provider’s stock valued at $178,000 after buying an additional 3,332 shares during the period. 65.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WASH shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Washington Trust Bancorp in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods upped their price target on Washington Trust Bancorp from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. Zacks Research raised Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Finally, Piper Sandler set a $32.00 target price on Washington Trust Bancorp in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.33.

Washington Trust Bancorp Stock Up 1.6%

Shares of NASDAQ WASH opened at $35.94 on Friday. The stock has a fifty day moving average price of $32.08 and a 200 day moving average price of $29.76. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.53. Washington Trust Bancorp, Inc. has a 12-month low of $24.95 and a 12-month high of $37.08. The company has a market cap of $684.12 million, a P/E ratio of 13.31, a P/E/G ratio of 0.74 and a beta of 0.86.

Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.08. Washington Trust Bancorp had a return on equity of 9.83% and a net margin of 13.26%.The company had revenue of $59.25 million during the quarter, compared to the consensus estimate of $56.38 million. Research analysts anticipate that Washington Trust Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.24 annualized dividend and a yield of 6.2%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 82.96%.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.