Sandy Spring Bancorp Inc. (SASR) Declares $0.26 Quarterly Dividend

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 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, February 13th.

Shares of Sandy Spring Bancorp (SASR) traded down $0.03 on Thursday, hitting $37.52. 14,270 shares of the stock were exchanged, compared to its average volume of 232,397. Sandy Spring Bancorp has a fifty-two week low of $36.41 and a fifty-two week high of $45.64. The firm has a market cap of $888.96, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. 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 (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $56.21 million. During the same period last year, the business earned $0.55 EPS. The company’s revenue was up 8.7% on a year-over-year basis. equities research analysts expect that Sandy Spring Bancorp will post 3.07 EPS for the current year.

In related news, Director Shaza L. Andersen sold 8,546 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $39.64, for a total value of $338,763.44. Following the transaction, the director now directly owns 77,344 shares of the company’s stock, valued at approximately $3,065,916.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ronda M. Mcdowell sold 1,872 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $37.95, for a total transaction of $71,042.40. Following the completion of the transaction, the executive vice president now directly owns 5,090 shares in the company, valued at $193,165.50. The disclosure for this sale can be found here. Insiders sold a total of 11,956 shares of company stock worth $469,219 over the last ninety days. Insiders own 2.60% of the company’s stock.

A number of equities research analysts have recently weighed in on SASR shares. Sandler O’Neill set a $44.00 price objective on shares of Sandy Spring Bancorp and gave the company a “hold” rating in a report on Friday, January 12th. Gabelli started coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, December 23rd. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. Finally, BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.75.

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About Sandy Spring Bancorp

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.

Dividend History for Sandy Spring Bancorp (NASDAQ:SASR)

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