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

Napatree Capital LLC raised its holdings in Washington Trust Bancorp, Inc. (NASDAQ:WASH) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,773 shares of the financial services provider’s stock after purchasing an additional 1,180 shares during the quarter. Washington Trust Bancorp accounts for approximately 1.0% of Napatree Capital LLC’s investment portfolio, making the stock its 23rd biggest position. Napatree Capital LLC’s holdings in Washington Trust Bancorp were worth $1,748,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Washington Trust Bancorp by 1.2% in the 4th quarter. American Century Companies Inc. now owns 325,169 shares of the financial services provider’s stock valued at $10,194,000 after purchasing an additional 3,697 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at $2,192,000. JPMorgan Chase & Co. boosted its holdings in shares of Washington Trust Bancorp by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,737 shares of the financial services provider’s stock valued at $2,150,000 after purchasing an additional 25,029 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Washington Trust Bancorp in the 4th quarter valued at $1,955,000. Finally, Inspire Advisors LLC lifted its stake in shares of Washington Trust Bancorp by 7.4% in the 4th quarter. Inspire Advisors LLC now owns 60,694 shares of the financial services provider’s stock valued at $1,903,000 after acquiring an additional 4,195 shares during the last quarter. Institutional investors and hedge funds own 65.81% of the company’s stock.

Washington Trust Bancorp Stock Down 0.8 %

Shares of NASDAQ:WASH opened at $31.30 on Friday. The firm has a market cap of $603.34 million, a P/E ratio of -20.19 and a beta of 0.80. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.63. Washington Trust Bancorp, Inc. has a 12-month low of $24.11 and a 12-month high of $40.59. The business has a fifty day simple moving average of $31.87 and a 200 day simple moving average of $33.11.

Washington Trust Bancorp (NASDAQ:WASH) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Washington Trust Bancorp, Inc. will post 2.76 earnings per share for the current year.

Washington Trust Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend is Tuesday, April 1st. Washington Trust Bancorp’s dividend payout ratio (DPR) is presently -144.52%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Seaport Res Ptn upgraded Washington Trust Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 14th. StockNews.com upgraded Washington Trust Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 31st.

Washington Trust Bancorp 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.