Washington Trust Bancorp, Inc. $WASH Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 181.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,606 shares of the financial services provider’s stock after purchasing an additional 18,448 shares during the quarter. Hsbc Holdings PLC’s holdings in Washington Trust Bancorp were worth $953,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Washington Trust Bancorp by 114.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,015 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 542 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Washington Trust Bancorp by 24.6% during the second quarter. Federated Hermes Inc. now owns 2,130 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 420 shares during the period. Tower Research Capital LLC TRC boosted its position in Washington Trust Bancorp by 200.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the financial services provider’s stock valued at $67,000 after buying an additional 1,578 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Washington Trust Bancorp by 367.2% in the third quarter. Russell Investments Group Ltd. now owns 2,378 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,869 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Washington Trust Bancorp by 35.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,016 shares of the financial services provider’s stock valued at $89,000 after buying an additional 789 shares during the last quarter. 65.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Washington Trust Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Seaport Research Partners downgraded shares of Washington Trust Bancorp from a “buy” rating to a “neutral” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Washington Trust Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research raised shares of Washington Trust Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.50.

Washington Trust Bancorp Price Performance

Shares of Washington Trust Bancorp stock opened at $39.23 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.09. Washington Trust Bancorp, Inc. has a twelve month low of $25.23 and a twelve month high of $39.85. The business has a 50-day moving average price of $35.33 and a 200 day moving average price of $33.91. The firm has a market cap of $748.12 million, a PE ratio of 13.62, a P/E/G ratio of 0.93 and a beta of 0.72.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings results on Monday, July 20th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Washington Trust Bancorp had a return on equity of 10.24% and a net margin of 14.50%.The company had revenue of $60.47 million for the quarter, compared to the consensus estimate of $59.91 million. Sell-side analysts predict that Washington Trust Bancorp, Inc. will post 3.15 earnings per share for the current fiscal year.

Washington Trust Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.56 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. Washington Trust Bancorp’s dividend payout ratio (DPR) is 77.78%.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.