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 paid 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 dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, February 13th.
Shares of Sandy Spring Bancorp (NASDAQ:SASR) traded up $0.06 during mid-day trading on Thursday, hitting $37.61. The company’s stock had a trading volume of 40,641 shares, compared to its average volume of 232,584. The firm has a market cap of $888.96, a P/E ratio of 17.05, a PEG ratio of 0.95 and a beta of 0.93. Sandy Spring Bancorp has a 52-week low of $36.41 and a 52-week high of $45.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results 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. The firm had revenue of $55.79 million for the quarter, compared to the consensus estimate 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 revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. analysts expect that Sandy Spring Bancorp will post 3.07 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the company. Gabelli assumed coverage on Sandy Spring Bancorp in a report on Monday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Zacks Investment Research raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. BidaskClub downgraded Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the company a “hold” rating in a report on Friday, January 12th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company 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.
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