Sandy Spring Bancorp Inc. (NASDAQ:SASR) announced a quarterly dividend on Wednesday, January 31st, Zacks reports. Shareholders of record on Wednesday, February 14th will be given a dividend of 0.26 per share by the bank on Wednesday, February 21st. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Tuesday, February 13th.
Shares of Sandy Spring Bancorp (NASDAQ SASR) traded up $0.06 during midday trading on Thursday, hitting $37.61. The stock had a trading volume of 40,641 shares, compared to its average volume of 232,584. The company has a market capitalization of $888.96, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.95 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03. Sandy Spring Bancorp has a one year low of $36.41 and a one year high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The company had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. Sandy Spring Bancorp had a return on equity of 10.91% and a net margin of 21.63%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. research analysts predict that Sandy Spring Bancorp will post 3.07 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. BidaskClub lowered Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a “hold” rating in a research note on Friday, January 12th. Gabelli assumed coverage on Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Zacks Investment Research upgraded Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus target price of $44.75.
In other Sandy Spring Bancorp news, Director Shaza L. Andersen sold 8,546 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $39.64, for a total transaction of $338,763.44. Following the transaction, the director now owns 77,344 shares in the company, valued at approximately $3,065,916.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ronda M. Mcdowell sold 1,872 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $37.95, for a total value of $71,042.40. Following the transaction, the executive vice president now owns 5,090 shares in the company, valued at approximately $193,165.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,956 shares of company stock worth $469,219. Corporate insiders own 2.60% of the company’s stock.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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