Barrett & Company Inc. Has $151,000 Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Barrett & Company Inc. boosted its position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 20.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,694 shares of the financial services provider’s stock after buying an additional 787 shares during the quarter. Barrett & Company Inc.’s holdings in Washington Trust Bancorp were worth $151,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Washington Trust Bancorp by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 826,057 shares of the financial services provider’s stock valued at $22,642,000 after purchasing an additional 59,115 shares in the last quarter. Inspire Advisors LLC bought a new position in Washington Trust Bancorp during the 2nd quarter worth $1,529,000. American Century Companies Inc. lifted its holdings in Washington Trust Bancorp by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 282,925 shares of the financial services provider’s stock worth $7,755,000 after buying an additional 40,122 shares during the period. Renaissance Technologies LLC raised its position in shares of Washington Trust Bancorp by 56.6% during the second quarter. Renaissance Technologies LLC now owns 108,668 shares of the financial services provider’s stock worth $2,979,000 after acquiring an additional 39,268 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Washington Trust Bancorp by 10.6% in the first quarter. ProShare Advisors LLC now owns 291,461 shares of the financial services provider’s stock worth $7,834,000 after acquiring an additional 27,979 shares during the period. Institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Price Performance

Shares of NASDAQ WASH traded up $0.55 during mid-day trading on Monday, reaching $34.77. 20,891 shares of the company were exchanged, compared to its average volume of 91,673. The stock has a market capitalization of $592.97 million, a PE ratio of 12.63 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 3.34. Washington Trust Bancorp, Inc. has a 52 week low of $22.19 and a 52 week high of $36.09. The company’s 50 day moving average price is $32.09 and its 200 day moving average price is $28.98.

Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results on Monday, October 21st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.08. The business had revenue of $103.86 million during the quarter, compared to analyst estimates of $47.32 million. Washington Trust Bancorp had a return on equity of 9.71% and a net margin of 11.24%. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Sell-side analysts forecast that Washington Trust Bancorp, Inc. will post 2.49 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.24 annualized dividend and a dividend yield of 6.44%. Washington Trust Bancorp’s dividend payout ratio is presently 82.66%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upgraded Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Tuesday, October 22nd.

About Washington Trust Bancorp

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.