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Washington Trust Bancorp, Inc. (NASDAQ:WASH) plans quarterly dividend of alt=

Washington Trust Bancorp, Inc. (NASDAQ:WASH – Free Report) announced a quarterly dividend on Thursday, June 20, Zacks reports. Shareholders of record on Monday, July 1, will receive a dividend of $0.56 per share from the financial services provider on Friday, July 12. This represents an annualized dividend of $2.24 and a dividend yield of 8.17%. The ex-dividend date is Monday, July 1.

Washington Trust Bancorp has increased its dividend by an average of 3.0% annually for the past three years and has increased it annually for the past 13 consecutive years. Washington Trust Bancorp has a payout ratio of 91.8%, which means the dividend is currently covered by earnings, but this may not be the case in the future if the company’s earnings decline. Equity analysts expect Washington Trust Bancorp to generate $2.34 per share next year, which means the company should still be able to cover its annual dividend of $2.24 with an expected future payout ratio of 95.7%.

Price development of Washington Trust Bancorp shares

NASDAQ:WASH opened at $27.41 on Friday. Washington Trust Bancorp has a twelve month low of $21.69 and a twelve month high of $33.96. The company has a market cap of $467.45 million, a P/E ratio of 10.11 and a beta of 0.81. The company has a 50 day moving average price of $26.22 and a 200 day moving average price of $27.28. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 2.70.

Washington Trust Bancorp (NASDAQ:WASH – Free Report) last released its quarterly earnings results on Monday, April 22. The financial services provider reported earnings per share (EPS) of $0.64 for the quarter, beating the consensus estimate of $0.43 by $0.21. Washington Trust Bancorp had a net margin of 12.01% and a return on equity of 10.11%. The company had revenue of $48.83 million during the quarter, compared to analyst expectations of $45.24 million. As a group, research analysts expect that Washington Trust Bancorp will report earnings per share of $2.09 for the current fiscal year.

Wall Street analysts comment

Separately, upgraded its rating on shares of Washington Trust Bancorp from “sell” to “hold” in a research note on Monday, June 17.

Check out our latest stock analysis on WASH

Washington Trust Bancorp Company Profile

(Get free report)

Washington Trust Bancorp, Inc. serves as the bank holding company for The Washington Trust Company of Westerly, which provides various banking and financial services to individuals and businesses. The company operates in two segments: Commercial Banking and Wealth Management Services. The Commercial Banking segment offers deposit accounts, including interest-bearing and non-interest-bearing demand deposits, NOW and savings accounts, money market and retirement accounts, and time deposits; various commercial and residential lending products, such as commercial real estate loans, including commercial mortgages and construction and development loans; commercial and industrial loans, which include working capital, equipment financing, and financing for other business-related purposes; residential real estate loans, which consist of mortgages and home construction loans; and consumer loans, including home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.

See also

Dividend history for Washington Trust Bancorp (NASDAQ:WASH)

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