Washington Trust Bancorp (WASH) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. reduced its stake in shares of Washington Trust Bancorp (NASDAQ:WASH) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,125 shares of the financial services provider’s stock after selling 33,380 shares during the period. Principal Financial Group Inc. owned 6.01% of Washington Trust Bancorp worth $49,390,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Washington Trust Bancorp by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 179,646 shares of the financial services provider’s stock worth $8,538,000 after acquiring an additional 16,141 shares during the period. Dimensional Fund Advisors LP grew its position in Washington Trust Bancorp by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 731,147 shares of the financial services provider’s stock valued at $34,752,000 after purchasing an additional 6,739 shares in the last quarter. Aptus Capital Advisors LLC bought a new position in Washington Trust Bancorp in the fourth quarter valued at $207,000. Citigroup Inc. grew its position in Washington Trust Bancorp by 8.4% in the fourth quarter. Citigroup Inc. now owns 6,457 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 503 shares in the last quarter. Finally, Sargent Investment Group LLC bought a new position in Washington Trust Bancorp in the fourth quarter valued at $931,000. Institutional investors and hedge funds own 58.28% of the company’s stock.
A number of brokerages have recently commented on WASH. BidaskClub downgraded shares of Washington Trust Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, February 25th. Sandler O’Neill downgraded shares of Washington Trust Bancorp from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a research report on Tuesday, January 29th. Finally, Compass Point downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Tuesday, January 29th.
Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Washington Trust Bancorp had a net margin of 28.66% and a return on equity of 15.98%. The company had revenue of $49.04 million during the quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Monday, April 1st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Friday, March 29th.
Washington Trust Bancorp Profile
Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.
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