Linden Thomas Advisory Services LLC Sells 871 Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Linden Thomas Advisory Services LLC cut its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,346 shares of the financial services provider’s stock after selling 871 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Washington Trust Bancorp were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crestwood Advisors Group LLC bought a new stake in Washington Trust Bancorp in the 3rd quarter worth about $2,512,000. Third Avenue Management LLC increased its holdings in Washington Trust Bancorp by 44.5% in the 3rd quarter. Third Avenue Management LLC now owns 294,994 shares of the financial services provider’s stock worth $8,050,000 after buying an additional 90,842 shares in the last quarter. American Century Companies Inc. increased its holdings in Washington Trust Bancorp by 13.2% in the 3rd quarter. American Century Companies Inc. now owns 169,477 shares of the financial services provider’s stock worth $4,462,000 after buying an additional 19,730 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Washington Trust Bancorp by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,208 shares of the financial services provider’s stock worth $5,772,000 after buying an additional 19,349 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in Washington Trust Bancorp in the 4th quarter worth about $353,000. 65.81% of the stock is currently owned by institutional investors.

Washington Trust Bancorp Stock Up 0.0 %

WASH stock opened at $26.47 on Thursday. Washington Trust Bancorp, Inc. has a twelve month low of $21.69 and a twelve month high of $33.96. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.57. The stock has a market cap of $450.78 million, a P/E ratio of 9.77 and a beta of 0.81. The business’s 50-day moving average price is $25.81 and its 200-day moving average price is $27.22.

Washington Trust Bancorp (NASDAQ:WASH) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.22. The company had revenue of $45.96 million for the quarter, compared to the consensus estimate of $47.38 million. Washington Trust Bancorp had a return on equity of 10.18% and a net margin of 12.01%. On average, equities research analysts forecast that Washington Trust Bancorp, Inc. will post 1.91 EPS for the current year.

Washington Trust Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date was Thursday, March 28th. Washington Trust Bancorp’s payout ratio is 82.66%.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn cut Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 31st.

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.