Sandy Spring Bancorp (NASDAQ:SASR) Now Covered by StockNews.com

StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note released on Wednesday. The firm issued a sell rating on the bank’s stock.

Sandy Spring Bancorp Stock Performance

NASDAQ:SASR opened at $33.32 on Wednesday. The company has a 50-day moving average of $35.65 and a 200-day moving average of $30.79. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 17.54 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The business had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. During the same quarter last year, the firm posted $0.62 EPS. Analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.08%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 71.58%.

Institutional Trading of Sandy Spring Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Sandy Spring Bancorp by 2.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after acquiring an additional 723 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Sandy Spring Bancorp by 36.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,050 shares of the bank’s stock valued at $513,000 after purchasing an additional 5,600 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Sandy Spring Bancorp by 3.5% in the second quarter. Chevy Chase Trust Holdings LLC now owns 107,195 shares of the bank’s stock valued at $2,611,000 after purchasing an additional 3,633 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Sandy Spring Bancorp in the second quarter worth $144,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sandy Spring Bancorp by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 384,726 shares of the bank’s stock valued at $9,372,000 after buying an additional 5,324 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

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 the United States. It offers financial products and services, including various loan and deposit products.