19,218 Shares in Washington Trust Bancorp, Inc. (NASDAQ:WASH) Purchased by North Star Investment Management Corp.

Posted by Defense World Staff on Mar 21st, 2023

North Star Investment Management Corp. acquired a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,218 shares of the financial services provider’s stock, valued at approximately $907,000. North Star Investment Management Corp. owned about 0.11% of Washington Trust Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Washington Trust Bancorp in the 3rd quarter worth about $224,000. BNP Paribas Arbitrage SNC boosted its stake in Washington Trust Bancorp by 12.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 6,235 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 711 shares during the period. Two Sigma Advisers LP boosted its stake in Washington Trust Bancorp by 95.6% in the 3rd quarter. Two Sigma Advisers LP now owns 17,600 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 8,600 shares during the period. Two Sigma Investments LP boosted its stake in Washington Trust Bancorp by 66.8% in the 3rd quarter. Two Sigma Investments LP now owns 18,140 shares of the financial services provider’s stock worth $843,000 after purchasing an additional 7,264 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Washington Trust Bancorp by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 961,406 shares of the financial services provider’s stock worth $44,687,000 after purchasing an additional 7,719 shares during the period. Hedge funds and other institutional investors own 71.23% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Washington Trust Bancorp in a research note on Thursday, March 16th. They issued a “sell” rating for the company.

Washington Trust Bancorp Stock Up 1.6 %

Shares of NASDAQ WASH opened at $35.39 on Tuesday. Washington Trust Bancorp, Inc. has a 52 week low of $33.70 and a 52 week high of $55.93. The business has a 50-day simple moving average of $43.01 and a two-hundred day simple moving average of $46.47. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 2.21. The company has a market cap of $601.28 million, a P/E ratio of 8.61 and a beta of 0.73.

Washington Trust Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Monday, April 3rd will be given a dividend of $0.56 per share. The ex-dividend date is Friday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.33%. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently 54.50%.

Insider Activity

In other Washington Trust Bancorp news, Director Constance A. Howes purchased 1,250 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was purchased at an average price of $44.01 per share, for a total transaction of $55,012.50. Following the transaction, the director now owns 3,320 shares in the company, valued at approximately $146,113.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.42% of the company’s stock.

Washington Trust Bancorp Company Profile

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Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.

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

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