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

by · The Markets Daily

Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Free Report) declared a quarterly dividend on Thursday, December 18th. Investors of record on Friday, January 2nd will be paid a dividend of 0.56 per share by the financial services provider on Wednesday, January 14th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Friday, January 2nd.

Washington Trust Bancorp has decreased its dividend payment by an average of 0.0%annually over the last three years. Washington Trust Bancorp has a payout ratio of 73.4% indicating that its dividend is sufficiently covered by earnings. 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

Shares of WASH opened at $31.26 on Friday. The firm has a fifty day simple moving average of $28.18 and a two-hundred day simple moving average of $28.46. The firm has a market cap of $594.88 million, a PE ratio of -19.66, a P/E/G ratio of 1.01 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.53. Washington Trust Bancorp has a 1-year low of $24.95 and a 1-year high of $34.13.

Washington Trust Bancorp (NASDAQ:WASH – Get Free Report) last posted its earnings results on Monday, October 20th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. The company had revenue of $56.47 million for the quarter, compared to the consensus estimate of $56.39 million. Washington Trust Bancorp had a positive return on equity of 8.90% and a negative net margin of 6.22%.During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that Washington Trust Bancorp will post 2.76 EPS for the current year.

Wall Street Analyst Weigh In

WASH has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Washington Trust Bancorp in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on Washington Trust Bancorp from $29.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler reduced their price target on Washington Trust Bancorp from $28.00 to $27.00 and set an “underweight” rating for the company in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.33.

View Our Latest Analysis on Washington Trust Bancorp

About Washington Trust Bancorp

(Get Free Report)

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.

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