John W. Rosenthal Capital Management Inc. boosted its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,837 shares of the financial services provider’s stock after buying an additional 2,700 shares during the period. Washington Trust Bancorp accounts for about 2.7% of John W. Rosenthal Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. John W. Rosenthal Capital Management Inc. owned 0.37% of Washington Trust Bancorp worth $3,239,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Washington Trust Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,104 shares of the financial services provider’s stock valued at $469,000 after buying an additional 24 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in Washington Trust Bancorp by 1.0% in the second quarter. Virginia Retirement Systems ET AL now owns 9,800 shares of the financial services provider’s stock valued at $505,000 after buying an additional 100 shares during the last quarter. Alliancebernstein L.P. increased its position in Washington Trust Bancorp by 0.8% in the first quarter. Alliancebernstein L.P. now owns 23,990 shares of the financial services provider’s stock valued at $1,183,000 after buying an additional 200 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Washington Trust Bancorp by 1.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,790 shares of the financial services provider’s stock valued at $778,000 after buying an additional 300 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Washington Trust Bancorp by 1.9% in the first quarter. Bank of America Corp DE now owns 29,955 shares of the financial services provider’s stock valued at $1,477,000 after buying an additional 546 shares during the last quarter. 59.24% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp, Inc. (WASH) traded down 0.30% during trading on Monday, reaching $50.45. The company had a trading volume of 2,066 shares. The company has a 50-day moving average of $51.58 and a 200-day moving average of $51.18. The firm has a market capitalization of $868.24 million, a P/E ratio of 17.64 and a beta of 0.73. Washington Trust Bancorp, Inc. has a 52-week low of $38.92 and a 52-week high of $58.30.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Washington Trust Bancorp had a net margin of 23.86% and a return on equity of 12.43%. The firm had revenue of $46.71 million for the quarter. Analysts expect that Washington Trust Bancorp, Inc. will post $2.92 EPS for the current fiscal year.

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Separately, BidaskClub downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th.

In other Washington Trust Bancorp news, Chairman Joseph J. Marcaurele sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $52.80, for a total value of $264,000.00. Following the transaction, the chairman now directly owns 57,583 shares of the company’s stock, valued at $3,040,382.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 5,481 shares of company stock worth $287,630. Insiders own 2.58% of the company’s stock.

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

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