StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Free Report) in a research report sent to investors on Wednesday. The brokerage issued a sell rating on the bank's stock.
Sandy Spring Bancorp Stock Down 3.0 %
Shares of SASR stock opened at $35.40 on Wednesday. Sandy Spring Bancorp has a 12-month low of $19.52 and a 12-month high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average of $35.61 and a 200-day moving average of $30.77. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 18.63 and a beta of 0.96.
Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced 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). Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. The firm had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. During the same period in the prior year, the business posted $0.62 EPS. As a group, equities research analysts predict that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
The company 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. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.84%. Sandy Spring Bancorp's dividend payout ratio is presently 71.58%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in SASR. Victory Capital Management Inc. grew its stake in Sandy Spring Bancorp by 1,199.7% in the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank's stock valued at $16,927,000 after buying an additional 641,402 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank's stock valued at $41,235,000 after purchasing an additional 615,591 shares during the last quarter. Basswood Capital Management L.L.C. lifted its holdings in Sandy Spring Bancorp by 2,164.4% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank's stock worth $14,709,000 after purchasing an additional 448,184 shares during the last quarter. Verition Fund Management LLC bought a new stake in Sandy Spring Bancorp in the 3rd quarter valued at $7,438,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in Sandy Spring Bancorp in the 2nd quarter valued at $4,778,000. 66.90% of the stock is owned by institutional investors and hedge funds.
Sandy Spring Bancorp Company Profile
(
Get Free Report)
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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