Sandy Spring Bancorp (NASDAQ:SASR) Shares Gap Down - Here's Why

Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $33.77, but opened at $32.98. Sandy Spring Bancorp shares last traded at $33.89, with a volume of 21,153 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a research note on Wednesday, February 12th. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.25.

Sandy Spring Bancorp Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $1.53 billion, a P/E ratio of 75.29 and a beta of 0.97. The firm has a fifty day moving average price of $33.85 and a 200-day moving average price of $33.29.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. On average, equities research analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.51 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.34 per share. The ex-dividend date is Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a yield of 4.01%. Sandy Spring Bancorp's dividend payout ratio (DPR) is presently 302.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $29,000. Vestcor Inc purchased a new stake in Sandy Spring Bancorp in the fourth quarter worth $37,000. Sterling Capital Management LLC increased its position in Sandy Spring Bancorp by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank's stock worth $47,000 after buying an additional 1,256 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at $170,000. Finally, Family Firm Inc. purchased a new position in shares of Sandy Spring Bancorp during the 4th quarter valued at $204,000. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

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.