Connecticut Wealth Management LLC Reduces Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Connecticut Wealth Management LLC lessened its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 17.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,615 shares of the financial services provider’s stock after selling 1,428 shares during the period. Connecticut Wealth Management LLC’s holdings in Washington Trust Bancorp were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WASH. Crestwood Advisors Group LLC acquired a new stake in shares of Washington Trust Bancorp during the 3rd quarter valued at about $2,512,000. PNC Financial Services Group Inc. boosted its holdings in Washington Trust Bancorp by 3.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 20,575 shares of the financial services provider’s stock worth $542,000 after buying an additional 715 shares during the last quarter. American Century Companies Inc. increased its stake in Washington Trust Bancorp by 13.2% during 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. Kestra Private Wealth Services LLC raised its holdings in shares of Washington Trust Bancorp by 37.0% during the third quarter. Kestra Private Wealth Services LLC now owns 27,974 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 7,562 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Washington Trust Bancorp in the fourth quarter valued at approximately $179,000. 65.81% of the stock is owned by hedge funds and other institutional investors.

Washington Trust Bancorp Trading Up 0.3 %

Shares of WASH stock traded up $0.07 on Monday, hitting $26.61. The stock had a trading volume of 43,219 shares, compared to its average volume of 89,513. The company’s 50 day moving average price is $25.73 and its 200-day moving average price is $27.21. Washington Trust Bancorp, Inc. has a 1 year low of $21.69 and a 1 year high of $33.96. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $453.17 million, a P/E ratio of 9.79 and a beta of 0.80.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, April 1st were paid a dividend of $0.56 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.24 dividend on an annualized basis and a yield of 8.42%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 82.66%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Seaport Res Ptn lowered shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, January 31st.

Washington Trust Bancorp Company 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.