Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Joe Reeder purchased 867 shares of the stock in a transaction dated Tuesday, April 30th. The stock was purchased at an average cost of $34.57 per share, for a total transaction of $29,972.19. Following the completion of the acquisition, the director now owns 56,852 shares of the company’s stock, valued at approximately $1,965,373.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of SASR opened at $34.77 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of 12.16 and a beta of 0.81. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. Sandy Spring Bancorp Inc. has a 1-year low of $29.83 and a 1-year high of $43.87.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, April 18th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The business had revenue of $84.96 million for the quarter, compared to the consensus estimate of $79.97 million. Sandy Spring Bancorp had a net margin of 27.54% and a return on equity of 10.11%. Sandy Spring Bancorp’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Sandy Spring Bancorp Inc. will post 3.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a $0.30 dividend. This is an increase from Sandy Spring Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, May 7th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 39.16%.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday. Boenning Scattergood set a $37.00 price target on shares of Sandy Spring Bancorp and gave the stock a “buy” rating in a report on Monday, April 22nd. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Gabelli reaffirmed a “buy” rating on shares of Sandy Spring Bancorp in a research note on Friday, January 18th. Finally, Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $44.00 to $35.00 in a research note on Friday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.75.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its stake in Sandy Spring Bancorp by 1.0% in the fourth quarter. Hsbc Holdings PLC now owns 42,049 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 411 shares in the last quarter. Citigroup Inc. raised its stake in Sandy Spring Bancorp by 11.0% in the fourth quarter. Citigroup Inc. now owns 6,917 shares of the bank’s stock valued at $217,000 after purchasing an additional 685 shares in the last quarter. Advisory Services Network LLC raised its stake in Sandy Spring Bancorp by 87.7% in the fourth quarter. Advisory Services Network LLC now owns 1,520 shares of the bank’s stock valued at $48,000 after purchasing an additional 710 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Sandy Spring Bancorp in the first quarter valued at approximately $28,000. Finally, PNC Financial Services Group Inc. raised its stake in Sandy Spring Bancorp by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 38,750 shares of the bank’s stock valued at $1,216,000 after purchasing an additional 1,039 shares in the last quarter. 69.10% of the stock is currently owned by institutional investors and hedge funds.

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Sandy Spring Bancorp Company Profile

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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