Washington Trust Bancorp, Inc. (WASH) Director Sells $112,620.00 in Stock
Washington Trust Bancorp, Inc. (NASDAQ:WASH) Director Katherine W. Hoxsie sold 2,000 shares of Washington Trust Bancorp stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $56.31, for a total transaction of $112,620.00. Following the completion of the transaction, the director now directly owns 24,892 shares of the company’s stock, valued at $1,401,668.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. Washington Trust Bancorp had a net margin of 23.63% and a return on equity of 12.56%. The firm had revenue of $47.34 million during the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Washington Trust Bancorp’s previous quarterly dividend of $0.38. Washington Trust Bancorp’s dividend payout ratio is currently 53.98%.
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A number of equities analysts have commented on the stock. BidaskClub cut shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Compass Point cut shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th.
A number of hedge funds have recently made changes to their positions in WASH. Principal Financial Group Inc. boosted its stake in Washington Trust Bancorp by 187.5% during the second quarter. Principal Financial Group Inc. now owns 1,094,945 shares of the financial services provider’s stock worth $56,445,000 after buying an additional 714,155 shares during the period. JPMorgan Chase & Co. boosted its stake in Washington Trust Bancorp by 79.8% during the second quarter. JPMorgan Chase & Co. now owns 229,930 shares of the financial services provider’s stock worth $11,852,000 after buying an additional 102,068 shares during the period. Franklin Resources Inc. boosted its stake in Washington Trust Bancorp by 22.1% during the second quarter. Franklin Resources Inc. now owns 489,191 shares of the financial services provider’s stock worth $25,218,000 after buying an additional 88,500 shares during the period. Thrivent Financial For Lutherans purchased a new position in Washington Trust Bancorp during the second quarter worth about $2,607,000. Finally, Renaissance Technologies LLC boosted its stake in Washington Trust Bancorp by 13.4% during 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. 55.21% of the stock is owned by institutional investors.
Washington Trust Bancorp Company Profile
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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