Intrua Financial LLC Makes New Investment in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Posted by Defense World Staff on Mar 31st, 2023

Intrua Financial LLC bought a new position in Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,617 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in shares of Washington Trust Bancorp by 2.8% in the third quarter. Envestnet Asset Management Inc. now owns 8,194 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 221 shares during the last quarter. Legal & General Group Plc grew its position in shares of Washington Trust Bancorp by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 15,302 shares of the financial services provider’s stock worth $740,000 after buying an additional 254 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Washington Trust Bancorp by 4.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,827 shares of the financial services provider’s stock worth $330,000 after buying an additional 265 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Washington Trust Bancorp by 27.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider’s stock worth $84,000 after buying an additional 327 shares during the period. Finally, New England Research & Management Inc. grew its position in shares of Washington Trust Bancorp by 0.9% during the 3rd quarter. New England Research & Management Inc. now owns 43,454 shares of the financial services provider’s stock worth $2,020,000 after buying an additional 400 shares during the period. 71.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Washington Trust Bancorp

In other news, Director Constance A. Howes acquired 1,250 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 3,320 shares in the company, valued at $146,113.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Washington Trust Bancorp Stock Down 2.2 %

Shares of NASDAQ WASH opened at $34.82 on Friday. The stock has a market cap of $591.59 million, a P/E ratio of 8.47 and a beta of 0.73. The firm has a 50 day moving average price of $41.08 and a 200 day moving average price of $45.72. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.04. Washington Trust Bancorp, Inc. has a 52-week low of $33.70 and a 52-week high of $55.93.

Washington Trust Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Monday, April 3rd will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Friday, March 31st. Washington Trust Bancorp’s dividend payout ratio is currently 54.50%.

About Washington Trust Bancorp

(Get Rating)

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.