Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Mark C. Michael sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $41.30, for a total transaction of $41,300.00. Following the transaction, the director now owns 81,590 shares of the company’s stock, valued at approximately $3,369,667. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Sandy Spring Bancorp opened at $41.93 on Tuesday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.07 and a current ratio of 1.08. Sandy Spring Bancorp Inc. has a twelve month low of $36.41 and a twelve month high of $43.13. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.15 and a beta of 0.85.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Sandy Spring Bancorp had a net margin of 21.34% and a return on equity of 10.94%. The firm had revenue of $81.03 million for the quarter, compared to analyst estimates of $78.10 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 48.2% on a year-over-year basis. analysts anticipate that Sandy Spring Bancorp Inc. will post 3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 9th were paid a $0.28 dividend. The ex-dividend date was Tuesday, May 8th. This represents a $1.12 dividend on an annualized basis and a yield of 2.67%. This is a positive change from Sandy Spring Bancorp’s previous quarterly dividend of $0.26. Sandy Spring Bancorp’s payout ratio is presently 44.09%.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 29th. Keefe, Bruyette & Woods upgraded shares of Sandy Spring Bancorp from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a report on Tuesday, April 24th. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, April 24th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, April 20th. Finally, ValuEngine cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Sandy Spring Bancorp currently has an average rating of “Hold” and an average target price of $46.20.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in Sandy Spring Bancorp in the first quarter valued at approximately $111,000. FNY Partners Fund LP bought a new position in Sandy Spring Bancorp in the fourth quarter valued at approximately $132,000. Highlander Capital Management LLC bought a new position in Sandy Spring Bancorp in the first quarter valued at approximately $186,000. Cornerstone Capital Management Holdings LLC. bought a new position in Sandy Spring Bancorp in the fourth quarter valued at approximately $214,000. Finally, Canandaigua National Bank & Trust Co. bought a new position in Sandy Spring Bancorp in the first quarter valued at approximately $217,000. 66.03% of the stock is currently owned by hedge funds and other institutional investors.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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