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

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) annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, July 1st.

Washington Trust Bancorp has increased its dividend 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 Price Performance

Washington Trust Bancorp stock opened at $34.92 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.98 and a current ratio of 0.99. Washington Trust Bancorp has a 52 week low of $25.23 and a 52 week high of $37.08. The stock has a market capitalization of $665.92 million, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.83 and a beta of 0.74. The stock has a fifty day moving average of $33.07 and a 200-day moving average of $32.54.

Washington Trust Bancorp (NASDAQ:WASH) last announced its quarterly earnings data on Monday, April 20th. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.11). The business had revenue of $57.83 million for the quarter, compared to the consensus estimate of $58.24 million. Washington Trust Bancorp had a return on equity of 9.79% and a net margin of 13.71%. On average, sell-side analysts expect that Washington Trust Bancorp will post 3.09 earnings per share for the current fiscal 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.