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

Washington Trust Bancorp, Inc. (NASDAQ:WASH) declared a quarterly dividend on Thursday, September 17th. Stockholders of record on Thursday, October 1st will be paid a dividend of 0.56 per share by the financial services provider on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Thursday, October 1st.

Washington Trust Bancorp has raised its dividend payment by an average of 0.0%per year over the last three years. Washington Trust Bancorp has a payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Washington Trust Bancorp to earn $3.54 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 63.3%.

Washington Trust Bancorp Stock Up 0.4%

WASH stock opened at $39.40 on Friday. The company has a market cap of $751.36 million, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70. Washington Trust Bancorp has a fifty-two week low of $25.23 and a fifty-two week high of $40.54. The stock’s 50 day simple moving average is $38.99 and its 200 day simple moving average is $35.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.97 and a current ratio of 0.97.

Washington Trust Bancorp (NASDAQ:WASH) last released its quarterly earnings data on Monday, July 20th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Washington Trust Bancorp had a net margin of 14.50% and a return on equity of 10.18%. The firm had revenue of $60.47 million for the quarter, compared to the consensus estimate of $59.91 million. On average, research analysts expect that Washington Trust Bancorp will post 3.2 earnings per share for the current fiscal year.

About Washington Trust Bancorp

Washington Trust Bancorp, Inc is the parent company of The Washington Trust Company, a full-service community bank headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is recognized as one of the oldest continuously operating banks in the United States.

The company provides a range of financial services to individuals, families, businesses, and institutions. Its offerings include personal and commercial deposit accounts, consumer and business lending, residential mortgages, cash management, online and mobile banking, and other traditional banking services.