Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) announced a quarterly dividend on Friday, September 16, reports The Wall Street Journal. Shareholders of record on Monday October 3 will receive a dividend of 0.54 per share from the financial services provider on Friday October 7. This represents an annualized dividend of $2.16 and a yield of 4.32%. The ex-date of this dividend is Friday, September 30.
Washington Trust Bancorp has increased its dividend payout by an average of 6.1% per year over the past three years and has increased its dividend annually for the past 11 consecutive years. Washington Trust Bancorp has a payout ratio of 49.2%, which means its dividend is sufficiently covered by earnings. Analysts expect Washington Trust Bancorp to earn $4.53 per share next year, meaning the company should continue to be able to cover its $2.16 annual dividend with a payout ratio. expected future of 47.7%.
Performance of Washington Trust Bancorp shares
Shares of WASH traded at $0.56 on Friday, hitting $50.02. The stock had trading volume of 232,383 shares, compared to an average volume of 57,184. Washington Trust Bancorp has a 1-year low of $45.60 and a 1-year high of $60.96. The company has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $50.62. The stock has a market capitalization of $858.89 million, a P/E ratio of 11.50 and a beta of 0.78. The company has a debt ratio of 0.74, a quick ratio of 0.91 and a current ratio of 0.91.
Washington Trust Bancorp (NASDAQ:WASH – Get Rating) released its quarterly results for the last time on Monday, July 25. The financial services provider reported EPS of $1.14 for the quarter, beating consensus analyst estimates of $0.91 by $0.23. Washington Trust Bancorp had a return on equity of 14.28% and a net margin of 31.97%. In the same quarter of the previous year, the company achieved EPS of $1.00. Equity research analysts expect Washington Trust Bancorp to post EPS of 4.19 for the current year.
Washington Trust Bancorp Institutional Trading
Hedge funds and other institutional investors have recently changed their positions in the company. Captrust Financial Advisors increased its stake in Washington Trust Bancorp by 16,450.0% during the second quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider worth $32,000 after buying an additional 658 shares during the period. Legal & General Group Plc increased its position in Washington Trust Bancorp by 1.7% in the second quarter. Legal & General Group Plc now owns 15,302 shares of the financial services provider valued at $740,000 after acquiring an additional 254 shares last quarter. Goldman Sachs Group Inc. increased its position in Washington Trust Bancorp shares by 32.6% in the second quarter. Goldman Sachs Group Inc. now owns 29,876 shares of the financial services provider valued at $1,445,000 after purchasing an additional 7,338 shares during the period. First Republic Investment Management Inc. increased its stake in Washington Trust Bancorp by 6.9% during the second quarter. First Republic Investment Management Inc. now owns 11,497 shares of the financial services provider worth $556,000 after buying an additional 744 shares last quarter. Finally, Price T Rowe Associates Inc. ® increased its holding in shares of Washington Trust Bancorp by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,827 shares of the financial services provider valued at $330,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors hold 71.44% of the company’s shares.
A Wall Street analyst gives his opinion
Several analysts have recently weighed in on the stock. Compass Point raised its price target on shares of Washington Trust Bancorp to $60.00 and gave the company an “outperform” rating in a Wednesday, July 27 research note. StockNews.com moved shares of Washington Trust Bancorp from a “sell” rating to a “hold” rating in a Monday, July 18 report.
Washington Trust Bancorp Company Profile
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Washington Trust Bancorp, Inc. operates as a bank holding company for The Washington Trust Company, of Westerly, which provides various banking and financial services to individuals and businesses. The Company operates in two segments, commercial banking services and wealth management services. The Commercial Banking segment offers various commercial and retail lending products, such as commercial real estate loans, including commercial mortgage loans and construction loans; commercial and industrial loans; residential real estate loans which consist of homeowner mortgages and construction loans; and consumer loans including home equity loans and lines of credit, personal installment loans and personal loans secured by general aviation aircraft.
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