Sandy Spring Bancorp Inc. (SASR) to Issue Quarterly Dividend of $0.30 on August 21st

Sandy Spring Bancorp Inc. (NASDAQ:SASR) declared a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Stockholders of record on Wednesday, August 14th will be paid a dividend of 0.30 per share by the bank on Wednesday, August 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, August 13th.

Sandy Spring Bancorp has raised its dividend by an average of 6.9% annually over the last three years and has increased its dividend every year for the last 8 years. Sandy Spring Bancorp has a dividend payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sandy Spring Bancorp to earn $3.41 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 35.2%.

Shares of NASDAQ SASR opened at $34.72 on Friday. The firm’s 50-day moving average is $35.10. Sandy Spring Bancorp has a 1-year low of $29.83 and a 1-year high of $40.56. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.78 and a beta of 0.84. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.70.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Sandy Spring Bancorp had a net margin of 27.80% and a return on equity of 10.26%. The firm had revenue of $82.74 million for the quarter, compared to analyst estimates of $82.39 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Sandy Spring Bancorp will post 3.21 earnings per share for the current fiscal year.

SASR has been the topic of several research reports. BidaskClub lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Boenning Scattergood initiated coverage on shares of Sandy Spring Bancorp in a report on Monday, June 24th. They set a “buy” rating and a $37.25 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Sandy Spring Bancorp currently has an average rating of “Hold” and a consensus price target of $37.85.

About Sandy Spring Bancorp

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 The company operates in three segments: Community Banking, Insurance, and Investment Management.

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Dividend History for Sandy Spring Bancorp (NASDAQ:SASR)

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