Insider Selling: Sandy Spring Bancorp Inc. (SASR) Director Sells 10,000 Shares of Stock

Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Joseph S. Bracewell sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $39.09, for a total transaction of $390,900.00. Following the sale, the director now directly owns 144,473 shares of the company’s stock, valued at approximately $5,647,449.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Sandy Spring Bancorp Inc. (NASDAQ SASR) opened at $38.81 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp Inc. has a 1 year low of $36.41 and a 1 year high of $45.64. The company has a market cap of $937.67, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.01 and a beta of 0.93.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.91%. The business had revenue of $55.79 million during the quarter, compared to the consensus estimate of $56.21 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. equities analysts expect that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 47.27%.

A number of large investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new stake in Sandy Spring Bancorp in the 4th quarter worth approximately $411,000. Clark Capital Management Group Inc. bought a new stake in Sandy Spring Bancorp in the 4th quarter worth approximately $1,384,000. Millennium Management LLC grew its position in Sandy Spring Bancorp by 13.8% in the 4th quarter. Millennium Management LLC now owns 341,864 shares of the bank’s stock worth $13,340,000 after purchasing an additional 41,382 shares during the period. Forest Hill Capital LLC grew its position in Sandy Spring Bancorp by 26.1% in the 4th quarter. Forest Hill Capital LLC now owns 322,262 shares of the bank’s stock worth $12,575,000 after purchasing an additional 66,750 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Sandy Spring Bancorp in the 4th quarter worth approximately $214,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on SASR shares. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 target price for the company in a research report on Thursday, January 4th. Sandler O’Neill set a $44.00 target price on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research report on Friday, January 12th. Finally, Gabelli assumed coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $44.75.

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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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