O Shaughnessy Asset Management LLC Invests $1.60 Million in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

O Shaughnessy Asset Management LLC acquired a new stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 50,893 shares of the financial services provider’s stock, valued at approximately $1,595,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Washington Trust Bancorp by 10.6% in the fourth quarter. Vanguard Group Inc. now owns 1,033,333 shares of the financial services provider’s stock valued at $32,395,000 after buying an additional 98,802 shares during the period. Prudential Financial Inc. increased its position in Washington Trust Bancorp by 1,154.4% in the 4th quarter. Prudential Financial Inc. now owns 86,729 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 79,815 shares during the period. Raymond James Financial Inc. bought a new position in shares of Washington Trust Bancorp during the fourth quarter valued at $2,192,000. Proficio Capital Partners LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth $1,955,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Washington Trust Bancorp by 74.7% in the fourth quarter. JPMorgan Chase & Co. now owns 116,608 shares of the financial services provider’s stock worth $3,656,000 after purchasing an additional 49,871 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Trading Down 4.7 %

NASDAQ WASH opened at $26.43 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a 52 week low of $24.11 and a 52 week high of $40.59. The business has a 50 day moving average price of $31.49 and a 200-day moving average price of $33.02. The company has a market cap of $509.46 million, a price-to-earnings ratio of -17.05 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a negative net margin of 6.90% and a positive return on equity of 8.99%. As a group, equities analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.56 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.24 annualized dividend and a yield of 8.48%. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. StockNews.com upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

Washington Trust Bancorp Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.