Sandy Spring Bancorp Inc. (NASDAQ:SASR) declared a quarterly dividend on Friday, February 1st, Wall Street Journal reports. Shareholders of record on Wednesday, February 13th will be given a dividend of 0.28 per share by the bank on Wednesday, February 20th. This represents a $1.12 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, February 12th.
Sandy Spring Bancorp has raised its dividend by an average of 6.9% annually over the last three years and has raised its dividend every year for the last 8 years. Sandy Spring Bancorp has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Sandy Spring Bancorp to earn $3.27 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 34.3%.
SASR opened at $32.96 on Monday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.93 and a beta of 0.72. Sandy Spring Bancorp has a 52 week low of $29.87 and a 52 week high of $43.87. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, January 17th. The bank reported $0.72 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.07). The firm had revenue of $80.18 million for the quarter, compared to analysts’ expectations of $81.94 million. Sandy Spring Bancorp had a return on equity of 10.10% and a net margin of 26.19%. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts forecast that Sandy Spring Bancorp will post 3.19 EPS for the current fiscal year.
In related news, Director Mark E. Friis bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 22nd. The shares were acquired at an average price of $31.86 per share, with a total value of $31,860.00. Following the transaction, the director now owns 11,235 shares of the company’s stock, valued at $357,947.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.31% of the stock is currently owned by company insiders.
Several research firms have commented on SASR. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 19th. BidaskClub downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Zacks Investment Research raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Keefe, Bruyette & Woods cut Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $44.00 to $35.00 in a research report on Friday, January 18th. Finally, Robert W. Baird raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.83.
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.
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