Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Mark C. Michael sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $41.30, for a total value of $41,300.00. Following the transaction, the director now directly owns 81,590 shares of the company’s stock, valued at $3,369,667. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NASDAQ SASR traded up $0.47 during mid-day trading on Monday, hitting $41.93. The stock had a trading volume of 198,600 shares, compared to its average volume of 201,811. Sandy Spring Bancorp Inc. has a twelve month low of $36.41 and a twelve month high of $43.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.07 and a current ratio of 1.08. The company has a market cap of $1.47 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.15 and a beta of 0.85.
Get Sandy Spring Bancorp alerts:
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Sandy Spring Bancorp had a return on equity of 10.94% and a net margin of 21.34%. The firm had revenue of $81.03 million during the quarter, compared to the consensus estimate of $78.10 million. During the same period in the prior year, the company earned $0.63 EPS. The firm’s revenue was up 48.2% compared to the same quarter last year. sell-side analysts predict that Sandy Spring Bancorp Inc. will post 3.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 16th. Investors of record on Wednesday, May 9th were paid a $0.28 dividend. This is an increase from Sandy Spring Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, May 8th. Sandy Spring Bancorp’s dividend payout ratio is currently 44.09%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Sandy Spring Bancorp in the 1st quarter valued at $111,000. FNY Partners Fund LP acquired a new position in Sandy Spring Bancorp in the 4th quarter valued at $132,000. Highlander Capital Management LLC acquired a new position in Sandy Spring Bancorp in the 1st quarter valued at $186,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Sandy Spring Bancorp in the 4th quarter valued at $214,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Sandy Spring Bancorp in the 1st quarter valued at $217,000. 66.03% of the stock is owned by hedge funds and other institutional investors.
SASR has been the subject of several research analyst reports. Zacks Investment Research downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Stephens raised Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Thursday, February 22nd. BidaskClub downgraded Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods raised Sandy Spring Bancorp from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research note on Tuesday, April 24th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, April 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $46.20.
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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
