Susquehanna Fundamental Investments LLC Makes New $1.12 Million Investment in Washington Trust Bancorp, Inc. $WASH

Susquehanna Fundamental Investments LLC acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH) in the 2nd quarter, HoldingsChannel reports. The firm acquired 30,588 shares of the financial services provider’s stock, valued at approximately $1,116,000.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Washington Trust Bancorp by 17.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,351 shares of the financial services provider’s stock valued at $350,000 after buying an additional 1,708 shares during the last quarter. Legal & General Group Plc lifted its stake in Washington Trust Bancorp by 8.1% during the 2nd quarter. Legal & General Group Plc now owns 19,312 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 1,448 shares in the last quarter. Rhumbline Advisers lifted its stake in Washington Trust Bancorp by 9.8% during the 2nd quarter. Rhumbline Advisers now owns 29,957 shares of the financial services provider’s stock valued at $847,000 after acquiring an additional 2,670 shares in the last quarter. Quantbot Technologies LP purchased a new position in Washington Trust Bancorp during the 2nd quarter worth $409,000. Finally, Invesco Ltd. boosted its holdings in Washington Trust Bancorp by 3.0% during the 2nd quarter. Invesco Ltd. now owns 304,400 shares of the financial services provider’s stock worth $8,608,000 after acquiring an additional 8,938 shares during the last quarter. Institutional investors own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Down 1.5%

Shares of NASDAQ:WASH opened at $38.56 on Wednesday. The company has a market capitalization of $735.34 million, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average price of $38.09 and a two-hundred day moving average price of $35.07. Washington Trust Bancorp, Inc. has a 1 year low of $25.23 and a 1 year high of $40.50.

Washington Trust Bancorp (NASDAQ:WASH) last released its earnings results on Monday, July 20th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $60.47 million for the quarter, compared to analysts’ expectations of $59.91 million. Washington Trust Bancorp had a return on equity of 10.18% and a net margin of 14.50%. Analysts forecast that Washington Trust Bancorp, Inc. will post 3.2 earnings per share for the current year.

Washington Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Wednesday, July 1st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Wednesday, July 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WASH shares. Zacks Research upgraded shares of Washington Trust Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Keefe, Bruyette & Woods upped their price objective on shares of Washington Trust Bancorp from $33.00 to $36.00 and gave the stock a “market perform” rating in a research 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. Finally, Piper Sandler lifted their target price 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. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

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.