StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Free Report) in a report released on Monday. The firm issued a sell rating on the bank's stock.
Sandy Spring Bancorp Trading Up 1.1 %
NASDAQ:SASR traded up $0.43 on Monday, reaching $38.11. The company's stock had a trading volume of 248,620 shares, compared to its average volume of 346,391. The firm has a market cap of $1.72 billion, a PE ratio of 19.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The business's 50-day moving average price is $34.18 and its two-hundred day moving average price is $29.60. Sandy Spring Bancorp has a 1-year low of $19.52 and a 1-year high of $39.55.
Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.06). The business had revenue of $189.81 million for the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts anticipate that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, November 14th. Sandy Spring Bancorp's payout ratio is presently 71.58%.
Institutional Trading of Sandy Spring Bancorp
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Sandy Spring Bancorp in the 3rd quarter valued at about $29,000. Hantz Financial Services Inc. acquired a new stake in shares of Sandy Spring Bancorp in the 2nd quarter valued at approximately $105,000. Meeder Asset Management Inc. bought a new position in shares of Sandy Spring Bancorp in the second quarter valued at $117,000. SG Americas Securities LLC acquired a new position in Sandy Spring Bancorp during the third quarter worth $170,000. Finally, CWM LLC raised its position in Sandy Spring Bancorp by 59.4% during the second quarter. CWM LLC now owns 5,561 shares of the bank's stock worth $135,000 after acquiring an additional 2,073 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company's stock.
Sandy Spring Bancorp Company Profile
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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.
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