Goldman Sachs Group Inc. increased its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 13.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,207 shares of the financial services provider’s stock after buying an additional 1,867 shares during the period. Goldman Sachs Group Inc.’s holdings in Washington Trust Bancorp were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WASH. Edge Asset Management Inc. boosted its position in shares of Washington Trust Bancorp by 4.4% in the first quarter. Edge Asset Management Inc. now owns 681,076 shares of the financial services provider’s stock worth $33,577,000 after buying an additional 28,480 shares during the period. Vanguard Group Inc. boosted its position in shares of Washington Trust Bancorp by 0.6% in the first quarter. Vanguard Group Inc. now owns 601,000 shares of the financial services provider’s stock worth $29,629,000 after buying an additional 3,507 shares during the period. Renaissance Technologies LLC boosted its position in shares of Washington Trust Bancorp by 13.4% in the first quarter. Renaissance Technologies LLC now owns 424,368 shares of the financial services provider’s stock worth $20,921,000 after buying an additional 50,168 shares during the period. Principal Financial Group Inc. boosted its position in shares of Washington Trust Bancorp by 11.9% in the first quarter. Principal Financial Group Inc. now owns 380,790 shares of the financial services provider’s stock worth $18,773,000 after buying an additional 40,482 shares during the period. Finally, BTIM Corp. boosted its position in shares of Washington Trust Bancorp by 37.1% in the first quarter. BTIM Corp. now owns 193,085 shares of the financial services provider’s stock worth $9,519,000 after buying an additional 52,249 shares during the period. 58.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) traded up 0.10% on Wednesday, hitting $50.60. The stock had a trading volume of 3,393 shares. The company has a 50 day moving average price of $52.00 and a 200-day moving average price of $51.36. Washington Trust Bancorp, Inc. has a 12 month low of $38.90 and a 12 month high of $58.30. The stock has a market cap of $870.83 million, a PE ratio of 17.69 and a beta of 0.73.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $46.71 million for the quarter. Washington Trust Bancorp had a net margin of 23.86% and a return on equity of 12.43%. On average, equities research analysts anticipate that Washington Trust Bancorp, Inc. will post $2.92 earnings per share for the current year.

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Separately, BidaskClub cut Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 24th.

In related news, Chairman Joseph J. Marcaurele sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $52.80, for a total transaction of $264,000.00. Following the transaction, the chairman now directly owns 57,583 shares in the company, valued at approximately $3,040,382.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 5,481 shares of company stock worth $287,630 over the last quarter. 2.58% of the stock is currently owned by insiders.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.

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

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