Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Declares $0.34 Quarterly Dividend

Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Get Free Report) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Wednesday, February 12th will be given a dividend of 0.34 per share by the bank on Wednesday, February 19th. This represents a $1.36 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, February 12th.

Sandy Spring Bancorp has raised its dividend by an average of 2.0% annually over the last three years. Sandy Spring Bancorp has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings.

Sandy Spring Bancorp Stock Down 2.1 %

Shares of NASDAQ SASR traded down $0.72 during midday trading on Monday, hitting $33.11. 102,299 shares of the company's stock were exchanged, compared to its average volume of 244,138. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55. The company has a market cap of $1.49 billion, a PE ratio of 73.65 and a beta of 0.97. The firm's fifty day simple moving average is $34.73 and its 200-day simple moving average is $32.96.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. Research analysts predict that Sandy Spring Bancorp will post 2.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a report on Monday, January 27th. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, Sandy Spring Bancorp currently has an average rating of "Hold" and a consensus price target of $28.25.

About Sandy Spring Bancorp

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.