Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Plans Quarterly Dividend of $0.34

Sandy Spring Bancorp, Inc. (NASDAQ:SASRGet Free Report) declared a quarterly dividend on Wednesday, January 31st, Wall Street Journal reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.34 per share by the bank on Wednesday, February 21st. This represents a $1.36 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Tuesday, February 13th.

Sandy Spring Bancorp has increased its dividend payment by an average of 4.3% per year over the last three years. Sandy Spring Bancorp has a payout ratio of 48.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sandy Spring Bancorp to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 48.9%.

Sandy Spring Bancorp Price Performance

Sandy Spring Bancorp stock opened at $23.00 on Monday. The company’s 50 day simple moving average is $25.49 and its 200-day simple moving average is $23.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.05 and a current ratio of 1.05. Sandy Spring Bancorp has a 1 year low of $19.27 and a 1 year high of $34.56. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.42 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Sandy Spring Bancorp had a return on equity of 8.73% and a net margin of 17.43%. The company had revenue of $182.18 million for the quarter, compared to analyst estimates of $101.53 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. As a group, equities research analysts expect that Sandy Spring Bancorp will post 2.36 earnings per share for the current year.

Analyst Ratings Changes

SASR has been the topic of a number of recent research reports. Stephens cut their price target on shares of Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Piper Sandler decreased their price target on shares of Sandy Spring Bancorp from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, October 30th. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.25.

Get Our Latest Stock Report on Sandy Spring Bancorp

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SASR. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth $241,000. Marshall Wace LLP purchased a new stake in Sandy Spring Bancorp during the 3rd quarter worth about $226,000. Quantedge Capital Pte Ltd acquired a new position in shares of Sandy Spring Bancorp during the 1st quarter worth about $220,000. Citigroup Inc. increased its holdings in shares of Sandy Spring Bancorp by 305.7% in the 1st quarter. Citigroup Inc. now owns 8,333 shares of the bank’s stock valued at $216,000 after acquiring an additional 6,279 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Sandy Spring Bancorp by 795.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,433 shares of the bank’s stock worth $214,000 after acquiring an additional 8,379 shares in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Sandy Spring Bancorp Company Profile

(Get Free Report)

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in Central Maryland, Northern Virginia, and Washington, DC It operates in two segments, Community Banking and Investment Management.

Read More

Dividend History for Sandy Spring Bancorp (NASDAQ:SASR)

Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.