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

Key Points

• Washington Trust Bancorp, Inc. announced a quarterly dividend of $0.56 per share, set to be distributed on October 10th to shareholders of record as of October 1st.
• The company has a dividend payout ratio of 73.4%, indicating that its dividend is well-supported by its earnings.
• Recently, Washington Trust Bancorp reported an EPS of $0.68 for the last quarter, surpassing analysts' expectations of $0.63.

Washington Trust Bancorp, Inc. (NASDAQ:WASH - Get Free Report) declared a quarterly dividend on Thursday, September 18th. Shareholders of record on Wednesday, October 1st will be given a dividend of 0.56 per share by the financial services provider on Friday, October 10th. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date is Wednesday, October 1st.

Washington Trust Bancorp has a payout ratio of 73.4% meaning 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 Trading Down 0.2%

WASH traded down $0.07 during trading on Tuesday, hitting $29.58. 19,259 shares of the stock were exchanged, compared to its average volume of 162,670. The firm has a 50 day simple moving average of $28.83 and a 200 day simple moving average of $28.61. The firm has a market cap of $566.66 million, a price-to-earnings ratio of -19.59, a P/E/G ratio of 0.85 and a beta of 0.94. Washington Trust Bancorp has a 1 year low of $24.95 and a 1 year high of $40.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.04 and a current ratio of 1.05.

Washington Trust Bancorp (NASDAQ:WASH - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $54.26 million for the quarter, compared to the consensus estimate of $54.07 million. Washington Trust Bancorp had a positive return on equity of 9.05% and a negative net margin of 6.10%.During the same period last year, the business posted $0.63 EPS. As a group, equities analysts expect that Washington Trust Bancorp will post 2.76 EPS for the current year.

About Washington Trust Bancorp

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.