New England Research Management Lowers stake in Washington Trust Bancorp (WASH)

Washington Trust Bancorp (WASH) : New England Research Management reduced its stake in Washington Trust Bancorp by 1.56% during the most recent quarter end. The investment management company now holds a total of 63,093 shares of Washington Trust Bancorp which is valued at $2,514,256 after selling 1,000 shares in Washington Trust Bancorp , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Washington Trust Bancorp makes up approximately 2.12% of New England Research Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in WASH in the latest quarter, The investment management firm added 454 additional shares and now holds a total of 1,016 shares of Washington Trust Bancorp which is valued at $40,488.

Washington Trust Bancorp opened for trading at $39.26 and hit $39.79 on the upside on Tuesday, eventually ending the session at $39.43, with a gain of 0.43% or 0.17 points. The heightened volatility saw the trading volume jump to 73,771 shares. Company has a market cap of $674 M.

Many Wall Street Analysts have commented on Washington Trust Bancorp. Washington Trust Bancorp was Downgraded by Keefe Bruyette to ” Mkt Perform” on Oct 3, 2016. Company shares were Reiterated by Compass Point on Jul 26, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $41 .

Washington Trust Bancorp Inc. (the Bancorp) is a bank holding company and financial holding company. The Company operates in two segments: Commercial Banking and Wealth Management Services. Commercial Banking segment includes commercial residential and consumer lending activities; equity in losses of unconsolidated investments in real estate limited partnerships mortgage banking secondary market and loan servicing activities; deposit generation; merchant credit card services; cash management activities and direct banking activities which include the operation of automated teller machine (ATMs) telephone and Internet banking services and customer support and sales. Wealth Management Services includes investment management; financial planning; personal trust services including services as trustee administrator custodian and guardian and estate settlement. Institutional trust services are also provided including fiduciary services.

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