Renaissance Technologies LLC Boosts Position in Washington Trust Bancorp (NASDAQ:WASH)

Renaissance Technologies LLC boosted its holdings in shares of Washington Trust Bancorp (NASDAQ:WASH) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 500,500 shares of the financial services provider’s stock after buying an additional 5,800 shares during the quarter. Renaissance Technologies LLC owned 2.89% of Washington Trust Bancorp worth $26,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Washington Trust Bancorp during the 2nd quarter worth approximately $37,000. SG Americas Securities LLC purchased a new position in Washington Trust Bancorp during the 1st quarter worth approximately $129,000. BNP Paribas Arbitrage SA raised its position in Washington Trust Bancorp by 206.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,143 shares of the financial services provider’s stock worth $151,000 after buying an additional 2,116 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Washington Trust Bancorp during the 2nd quarter worth approximately $201,000. Finally, RB Capital Management LLC purchased a new position in Washington Trust Bancorp during the 2nd quarter worth approximately $216,000. 58.99% of the stock is owned by institutional investors.

Shares of NASDAQ:WASH traded up $0.66 during trading on Friday, hitting $50.72. 54,085 shares of the stock traded hands, compared to its average volume of 26,529. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 2.30. The company has a market cap of $867.89 million, a price-to-earnings ratio of 12.58 and a beta of 0.67. The company has a fifty day moving average price of $47.39 and a two-hundred day moving average price of $49.97. Washington Trust Bancorp has a 52-week low of $45.21 and a 52-week high of $58.40.

Washington Trust Bancorp (NASDAQ:WASH) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.04). The firm had revenue of $50.61 million for the quarter, compared to analysts’ expectations of $50.90 million. Washington Trust Bancorp had a net margin of 27.03% and a return on equity of 15.12%. On average, equities research analysts predict that Washington Trust Bancorp will post 3.87 EPS for the current fiscal year.

A number of equities analysts have issued reports on WASH shares. Zacks Investment Research lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Boenning Scattergood started coverage on shares of Washington Trust Bancorp in a research report on Wednesday, June 26th. They set an “outperform” rating and a $55.00 price target for the company. BidaskClub lowered shares of Washington Trust Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. Finally, ValuEngine lowered shares of Washington Trust Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Washington Trust Bancorp currently has an average rating of “Hold” and a consensus price target of $54.33.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that offers various financial products and services to individuals and businesses. The company operates in two segments, Commercial Banking and Wealth Management Services. The Commercial Banking segment provides various commercial and retail lending products, which include commercial real estate loans consisting of commercial mortgages and construction loans; commercial and industrial loans; residential real estate loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.

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

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