Schwab Charles Investment Management Inc. Has $4.09 Million Position in Washington Trust Bancorp, Inc. (WASH)

Schwab Charles Investment Management Inc. increased its stake in shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 5.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,372 shares of the financial services provider’s stock after acquiring an additional 3,865 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Washington Trust Bancorp were worth $4,087,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New England Research & Management Inc. raised its holdings in Washington Trust Bancorp by 1.4% during the third quarter. New England Research & Management Inc. now owns 73,859 shares of the financial services provider’s stock worth $4,228,000 after acquiring an additional 1,050 shares in the last quarter. Northern Trust Corp raised its holdings in Washington Trust Bancorp by 2.1% during the second quarter. Northern Trust Corp now owns 526,769 shares of the financial services provider’s stock worth $27,154,000 after acquiring an additional 10,788 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Washington Trust Bancorp by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 703,417 shares of the financial services provider’s stock worth $36,262,000 after acquiring an additional 2,007 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Washington Trust Bancorp by 1.0% during the second quarter. Wells Fargo & Company MN now owns 17,710 shares of the financial services provider’s stock worth $914,000 after acquiring an additional 175 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Washington Trust Bancorp by 1.5% during the third quarter. Principal Financial Group Inc. now owns 1,111,262 shares of the financial services provider’s stock worth $63,619,000 after acquiring an additional 16,317 shares in the last quarter. Institutional investors and hedge funds own 55.09% of the company’s stock.

Shares of Washington Trust Bancorp, Inc. (NASDAQ:WASH) opened at $55.70 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $959.20, a P/E ratio of 19.21 and a beta of 0.75. Washington Trust Bancorp, Inc. has a 52 week low of $47.00 and a 52 week high of $59.10.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $47.34 million for the quarter. Washington Trust Bancorp had a return on equity of 12.44% and a net margin of 23.63%.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.56 annualized dividend and a yield of 2.80%. Washington Trust Bancorp’s dividend payout ratio is 53.79%.

WASH has been the topic of several analyst reports. Compass Point upgraded Washington Trust Bancorp from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. BidaskClub upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th.

In other Washington Trust Bancorp news, SVP Dennis L. Algiere sold 950 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $56.60, for a total value of $53,770.00. Following the sale, the senior vice president now owns 9,783 shares in the company, valued at $553,717.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John F. Treanor sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $55.94, for a total value of $307,670.00. The disclosure for this sale can be found here. Insiders sold 11,451 shares of company stock worth $633,870 in the last 90 days. Corporate insiders own 2.58% of the company’s stock.

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About Washington Trust Bancorp

Washington Trust Bancorp, Inc is a bank holding company and financial holding company. The Company is a holding company of The Washington Trust Company, of Westerly (the Bank), a Rhode Island chartered commercial bank. The Company operates through two business segments: Commercial Banking and Wealth Management Services.

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Institutional Ownership by Quarter for Washington Trust Bancorp (NASDAQ:WASH)

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