Napatree Capital LLC Has $1.75 Million Stake in Washington Trust Bancorp, Inc. (NASDAQ:WASH)

Napatree Capital LLC raised its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,773 shares of the financial services provider’s stock after acquiring an additional 1,180 shares during the period. Washington Trust Bancorp comprises about 1.0% of Napatree Capital LLC’s investment portfolio, making the stock its 23rd largest holding. Napatree Capital LLC owned about 0.29% of Washington Trust Bancorp worth $1,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WASH. American Century Companies Inc. boosted its position in shares of Washington Trust Bancorp by 1.2% during the fourth quarter. American Century Companies Inc. now owns 325,169 shares of the financial services provider’s stock worth $10,194,000 after buying an additional 3,697 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $2,192,000. JPMorgan Chase & Co. boosted its position in shares of Washington Trust Bancorp by 60.0% during the third quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock worth $2,150,000 after buying an additional 25,029 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Washington Trust Bancorp during the fourth quarter worth about $1,955,000. Finally, Inspire Advisors LLC boosted its position in shares of Washington Trust Bancorp by 7.4% during the fourth quarter. Inspire Advisors LLC now owns 60,694 shares of the financial services provider’s stock worth $1,903,000 after buying an additional 4,195 shares during the period. 65.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WASH shares. Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a report on Friday, March 14th. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 31st.

Washington Trust Bancorp Stock Performance

WASH opened at $31.30 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10. The business’s 50-day simple moving average is $31.87 and its 200 day simple moving average is $33.11. The firm has a market capitalization of $603.34 million, a PE ratio of -20.19 and a beta of 0.80. Washington Trust Bancorp, Inc. has a 52-week low of $24.11 and a 52-week high of $40.59.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. As a group, sell-side analysts expect that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current fiscal year.

Washington Trust Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend is Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio is currently -144.52%.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.