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

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.56 per share by the financial services provider on Friday, April 11th. This represents a $2.24 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Tuesday, April 1st.

Washington Trust Bancorp has raised its dividend by an average of 2.2% per year over the last three years. Washington Trust Bancorp has a payout ratio of 71.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Washington Trust Bancorp to earn $3.12 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 71.8%.

Washington Trust Bancorp Price Performance

WASH traded up $0.65 during trading hours on Monday, hitting $31.95. The company's stock had a trading volume of 135,736 shares, compared to its average volume of 130,434. Washington Trust Bancorp has a 12 month low of $24.11 and a 12 month high of $40.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.63. The business's 50-day moving average price is $31.87 and its 200-day moving average price is $33.12. The stock has a market cap of $615.87 million, a price-to-earnings ratio of -20.61 and a beta of 0.80.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.02. Washington Trust Bancorp had a positive return on equity of 8.99% and a negative net margin of 6.90%. Sell-side analysts expect that Washington Trust Bancorp will post 2.76 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com upgraded Washington Trust Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Seaport Res Ptn raised Washington Trust Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 14th.

Washington Trust Bancorp Company Profile

Washington Trust Bancorp, Inc operates as the bank holding company for The Washington Trust Company, of Westerly that 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 noninterest-bearing demand deposits, NOW and savings accounts, money market and retirement deposit accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft.