Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.42 and last traded at $32.42, with a volume of 38481 shares. The stock had previously closed at $32.14.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. DA Davidson upped their target price on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.00.
Get Our Latest Analysis on SASR
Sandy Spring Bancorp Stock Up 0.7 %
Sandy Spring Bancorp (NASDAQ:SASR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $184.70 million during the quarter, compared to the consensus estimate of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. During the same period in the prior year, the business posted $0.60 earnings per share. On average, research analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.20%. Sandy Spring Bancorp’s payout ratio is 66.67%.
Institutional Trading of Sandy Spring Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new stake in Sandy Spring Bancorp in the fourth quarter valued at $77,000. EntryPoint Capital LLC acquired a new stake in Sandy Spring Bancorp during the 1st quarter worth about $98,000. Hantz Financial Services Inc. acquired a new stake in Sandy Spring Bancorp during the 2nd quarter worth about $105,000. Meeder Asset Management Inc. acquired a new stake in Sandy Spring Bancorp during the 2nd quarter worth about $117,000. Finally, SG Americas Securities LLC acquired a new stake in Sandy Spring Bancorp during the 1st quarter worth about $122,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Sandy Spring Bancorp
- Following Congress Stock Trades
- Palo Alto Analysts Drive it to New Highs: 50% Upside Is Possible
- Bank Stocks – Best Bank Stocks to Invest In
- Roblox’s Growth Beyond Kids: Stock Set for Major Moves
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- 5 Oversold Stocks to Buy Right Now
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.