Washington Trust Bancorp, Inc. (NASDAQ:WASH) Plans Quarterly Dividend of $0.56

Washington Trust Bancorp, Inc. (NASDAQ:WASH) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Wednesday, July 1st will be paid a dividend of 0.56 per share by the financial services provider on Friday, July 10th. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Wednesday, July 1st.

Washington Trust Bancorp has increased its dividend payment by an average of 0.0%per year over the last three years. Washington Trust Bancorp has a dividend payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Washington Trust Bancorp to earn $3.38 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 66.3%.

Washington Trust Bancorp Stock Performance

NASDAQ:WASH opened at $34.92 on Friday. The stock has a 50 day simple moving average of $33.07 and a 200 day simple moving average of $32.54. The stock has a market cap of $665.92 million, a P/E ratio of 12.79, a PEG ratio of 0.83 and a beta of 0.74. Washington Trust Bancorp has a 1-year low of $25.23 and a 1-year high of $37.08. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.09.

Washington Trust Bancorp (NASDAQ:WASH) last issued its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.11). The firm had revenue of $57.83 million during the quarter, compared to analyst estimates of $58.24 million. Washington Trust Bancorp had a net margin of 13.71% and a return on equity of 9.79%. Research analysts anticipate that Washington Trust Bancorp will post 3.09 earnings per share for the current year.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc is the bank holding company for The Washington Trust Company, a community bank headquartered in Westerly, Rhode Island. Through its subsidiary, the company operates a network of branch offices across Rhode Island and southeastern Connecticut, serving individuals, small businesses and municipalities with a full suite of financial services.

The company’s core business activities encompass retail and commercial banking, including checking and savings accounts, consumer and commercial loans, mortgage financing, and cash management solutions.