Sandy Spring Bancorp (NASDAQ:SASR) Research Coverage Started at StockNews.com

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

Sandy Spring Bancorp Trading Up 2.2 %

Shares of NASDAQ:SASR opened at $35.08 on Tuesday. The company has a 50 day moving average of $34.43 and a 200-day moving average of $33.05. The firm has a market cap of $1.58 billion, a P/E ratio of 77.96 and a beta of 0.97. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55. 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 (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. As a group, analysts anticipate that Sandy Spring Bancorp will post 2.51 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio is presently 302.22%.

Institutional Trading of Sandy Spring Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Sandy Spring Bancorp by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 23,438 shares of the bank’s stock valued at $571,000 after acquiring an additional 1,774 shares during the period. Creative Planning raised its holdings in shares of Sandy Spring Bancorp by 4.8% during the second quarter. Creative Planning now owns 59,184 shares of the bank’s stock valued at $1,442,000 after acquiring an additional 2,701 shares during the period. Truist Financial Corp raised its holdings in shares of Sandy Spring Bancorp by 2.6% during the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after acquiring an additional 1,104 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp during the third quarter valued at approximately $170,000. Finally, CWM LLC raised its holdings in shares of Sandy Spring Bancorp by 27.4% during the third quarter. CWM LLC now owns 7,086 shares of the bank’s stock valued at $222,000 after acquiring an additional 1,525 shares during the period. 66.90% of the stock is owned by institutional investors and hedge funds.

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.