Sandy Spring Bancorp Inc. (NASDAQ:SASR) shares reached a new 52-week low on Thursday . The stock traded as low as $33.07 and last traded at $33.66, with a volume of 6165 shares traded. The stock had previously closed at $33.70.
Several research analysts have weighed in on the company. Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. BidaskClub cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Boenning Scattergood raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Monday, November 19th. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $45.14.
The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, October 18th. The bank reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. The business had revenue of $82.62 million during the quarter, compared to analysts’ expectations of $82.74 million. During the same period in the prior year, the firm posted $0.62 EPS. Analysts anticipate that Sandy Spring Bancorp Inc. will post 3.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.31%. Sandy Spring Bancorp’s dividend payout ratio is presently 44.09%.
Several hedge funds and other institutional investors have recently modified their holdings of SASR. Principal Financial Group Inc. lifted its position in shares of Sandy Spring Bancorp by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 156,893 shares of the bank’s stock valued at $6,081,000 after buying an additional 5,375 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Sandy Spring Bancorp by 14.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 404,708 shares of the bank’s stock valued at $16,597,000 after purchasing an additional 52,007 shares during the period. Alps Advisors Inc. bought a new stake in shares of Sandy Spring Bancorp during the 2nd quarter valued at $477,000. Comerica Bank bought a new stake in shares of Sandy Spring Bancorp during the 2nd quarter valued at $1,947,000. Finally, Victory Capital Management Inc. raised its stake in shares of Sandy Spring Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 12,778 shares of the bank’s stock valued at $524,000 after purchasing an additional 1,754 shares during the period. 69.09% of the stock is currently owned by hedge funds and other institutional investors.
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About Sandy Spring Bancorp (NASDAQ:SASR)
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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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