Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Joseph S. Bracewell sold 50,000 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $39.21, for a total value of $1,960,500.00. Following the sale, the director now owns 42,173 shares in the company, valued at approximately $1,653,603.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Sandy Spring Bancorp Inc. (SASR) traded down $0.38 during trading hours on Wednesday, reaching $39.37. The company’s stock had a trading volume of 125,966 shares, compared to its average volume of 211,003. The stock has a market cap of $952.78, a PE ratio of 16.34, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36. Sandy Spring Bancorp Inc. has a 12 month low of $36.41 and a 12 month high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its 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. Sandy Spring Bancorp had a return on equity of 10.87% and a net margin of 21.63%. The company had revenue of $55.79 million during the quarter, compared to analysts’ expectations of $56.21 million. During the same period last year, the business posted $0.55 EPS. Sandy Spring Bancorp’s revenue for the quarter was up 8.7% on a year-over-year basis. analysts predict that Sandy Spring Bancorp Inc. will post 3.05 EPS for the current year.
The business also recently declared 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 2.64%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is currently 42.80%.
A number of equities research analysts have recently weighed in on SASR shares. Zacks Investment Research upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, December 23rd. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. BidaskClub upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Gabelli initiated coverage on Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $44.80.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Sandy Spring Bancorp by 4.6% during the 4th quarter. BlackRock Inc. now owns 2,156,143 shares of the bank’s stock worth $84,134,000 after acquiring an additional 95,615 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sandy Spring Bancorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock worth $75,534,000 after acquiring an additional 35,355 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after acquiring an additional 10,359 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Sandy Spring Bancorp by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock worth $39,137,000 after acquiring an additional 25,663 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of Sandy Spring Bancorp by 6.1% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after acquiring an additional 37,386 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.
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.
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