Sandy Spring Bancorp Inc. (NASDAQ:SASR) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Wednesday, August 12th will be paid a dividend of 0.30 per share by the bank on Wednesday, August 19th. This represents a $1.20 annualized dividend and a yield of 5.19%. The ex-dividend date is Tuesday, August 11th.
Sandy Spring Bancorp has increased its dividend by an average of 20.4% per year over the last three years and has increased its dividend every year for the last 9 years. Sandy Spring Bancorp has a payout ratio of 50.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sandy Spring Bancorp to earn $3.17 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 37.9%.
Shares of SASR stock opened at $23.12 on Friday. Sandy Spring Bancorp has a one year low of $18.00 and a one year high of $38.45. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.01 and a current ratio of 1.02. The company has a 50 day moving average price of $23.90 and a 200 day moving average price of $26.78. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 3.25 and a beta of 1.11.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.73). Sandy Spring Bancorp had a return on equity of 6.71% and a net margin of 11.88%. The company had revenue of $124.44 million for the quarter, compared to analyst estimates of $104.50 million. As a group, equities analysts forecast that Sandy Spring Bancorp will post 1.85 EPS for the current fiscal year.
In other news, Director Pamela A. Little bought 3,580 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $19.89 per share, for a total transaction of $71,206.20. Following the completion of the purchase, the director now owns 23,685 shares of the company’s stock, valued at $471,094.65. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark C. Michael bought 1,300 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $20.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the director now directly owns 24,447 shares of the company’s stock, valued at approximately $488,940. The disclosure for this purchase can be found here. Insiders bought 5,880 shares of company stock valued at $120,576 over the last 90 days. Insiders own 2.09% of the company’s stock.
Several equities analysts recently commented on SASR shares. Stephens reaffirmed an “equal weight” rating and set a $29.00 price target on shares of Sandy Spring Bancorp in a research report on Tuesday, June 30th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 24th. Finally, BidaskClub downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus target price of $34.25.
About Sandy Spring Bancorp
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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