Insider Buying: Sandy Spring Bancorp Inc. (SASR) Director Buys 600 Shares of Stock

Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Mona Abutaleb Stephenson bought 600 shares of Sandy Spring Bancorp stock in a transaction on Monday, February 5th. The shares were acquired at an average price of $37.82 per share, for a total transaction of $22,692.00. Following the completion of the acquisition, the director now owns 948 shares of the company’s stock, valued at approximately $35,853.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Sandy Spring Bancorp Inc. (SASR) traded down $1.65 during trading on Monday, hitting $37.00. The stock had a trading volume of 215,143 shares, compared to its average volume of 242,564. The company has a market capitalization of $927.35, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. Sandy Spring Bancorp Inc. has a 12 month low of $36.50 and a 12 month high of $45.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. analysts expect that Sandy Spring Bancorp Inc. will post 3.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.81%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 47.27%.

Several research analysts have weighed in on SASR shares. Zacks Investment Research upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. Gabelli started coverage on Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 target price on the stock. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Tuesday, January 2nd. Finally, BidaskClub upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One equities research 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.75.

Institutional investors have recently modified their holdings of the company. KBC Group NV bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $139,000. FNY Partners Fund LP bought a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at about $132,000. Court Place Advisors LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $200,000. Magnetar Financial LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $203,000. Finally, Columbia Partners L L C Investment Management acquired a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $228,000. Institutional investors own 70.53% 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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