Washington Trust Bancorp, Inc. (NASDAQ:WASH – Get Rating) announced a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Monday, April 3rd will be paid a dividend of 0.56 per share by the financial services provider on Thursday, April 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Friday, March 31st.
Washington Trust Bancorp has raised its dividend by an average of 2.9% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Washington Trust Bancorp has a dividend payout ratio of 56.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Washington Trust Bancorp to earn $4.30 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 52.1%.
Washington Trust Bancorp Stock Performance
Washington Trust Bancorp stock traded down $1.96 during mid-day trading on Friday, reaching $34.84. The company’s stock had a trading volume of 473,822 shares, compared to its average volume of 115,496. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Washington Trust Bancorp has a twelve month low of $33.70 and a twelve month high of $55.93. The business has a 50 day moving average price of $43.25 and a 200-day moving average price of $46.64. The firm has a market cap of $591.76 million, a price-to-earnings ratio of 8.48 and a beta of 0.73.
Analyst Ratings Changes
In other news, Director Constance A. Howes acquired 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The shares were purchased at an average cost of $44.01 per share, for a total transaction of $55,012.50. Following the transaction, the director now directly owns 3,320 shares in the company, valued at approximately $146,113.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.42% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in Washington Trust Bancorp by 16,450.0% in the 2nd quarter. Captrust Financial Advisors now owns 662 shares of the financial services provider’s stock valued at $32,000 after buying an additional 658 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Washington Trust Bancorp by 27.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,530 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 327 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Washington Trust Bancorp in the fourth quarter valued at $203,000. Teacher Retirement System of Texas bought a new position in Washington Trust Bancorp during the fourth quarter valued at about $204,000. Finally, Jane Street Group LLC bought a new stake in Washington Trust Bancorp in the third quarter worth about $224,000. Institutional investors own 71.23% of the company’s stock.
Washington Trust Bancorp Company Profile
Washington Trust Bancorp, Inc operates as a bank holding company. The firm engages in the provision of financial services, including business banking, personal banking and wealth management and trust services. It operates through the following segments: Commercial Banking and Wealth Management Services.
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