WESTERLY – BlackRock Inc. and Bank of America Corp. have increased their stakes in Washington Trust Bancorp Inc., adding to the presence of major national financial institutions among the community bank’s shareholders, according to reports published Aug. 31 by MarketBeat.
New York-based BlackRock, one of the world’s largest asset managers, reported aggregate holdings of 2.24 million Washington Trust shares, valued at approximately $81.6 million, as of June 30, according to its latest ownership disclosure.
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The position represents about 11.72% of Washington Trust’s outstanding shares, according to MarketBeat.
Bank of America, meanwhile, increased its Washington Trust holdings by 35.5% during the first quarter, purchasing an additional 27,080 shares. The Charlotte, N.C.-based bank owned 103,355 shares, valued at approximately $3.46 million, or about 0.54% of Washington Trust, according to its most recent disclosure.
The institutional activity comes as Washington Trust Bancorp, parent company of The Washington Trust Co., continues to operate independently as a community bank serving Rhode Island and southeastern Connecticut. Washington Trust Bancorp reported $6.5 billion in assets and $5.4 billion in deposits as of June 30.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
