Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Free Report) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 0.56 per share by the financial services provider on Wednesday, January 15th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date is Thursday, January 2nd.
Washington Trust Bancorp has increased its dividend payment by an average of 3.0% per year over the last three years and has increased its dividend every year for the last 13 years. Washington Trust Bancorp has a dividend payout ratio of 81.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Washington Trust Bancorp to earn $2.60 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 86.2%.
Washington Trust Bancorp Stock Up 1.1 %
Shares of WASH stock opened at $31.11 on Tuesday. The business’s fifty day moving average is $35.60 and its 200-day moving average is $32.10. Washington Trust Bancorp has a 1 year low of $24.11 and a 1 year high of $40.59. The stock has a market cap of $599.09 million, a PE ratio of 11.65 and a beta of 0.79. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.10 and a current ratio of 1.10.
Wall Street Analyst Weigh In
Several research firms have issued reports on WASH. StockNews.com downgraded Washington Trust Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. Piper Sandler upgraded shares of Washington Trust Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $30.00 to $34.00 in a research report on Tuesday, October 22nd.
Get Our Latest Report on Washington Trust Bancorp
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.
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