Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) hit a new 52-week low on Thursday . The company traded as low as $33.07 and last traded at $33.66, with a volume of 6165 shares. The stock had previously closed at $33.70.
A number of brokerages recently weighed in on SASR. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 19th. Robert W. Baird raised shares of Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Friday, October 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, October 19th. Finally, Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Sandy Spring Bancorp currently has a consensus rating of “Hold” and an average price target of $45.14.
The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.96 and a beta of 0.67.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. The business had revenue of $82.62 million for the quarter, compared to analysts’ expectations of $82.74 million. During the same period last year, the company posted $0.62 earnings per share. As a group, analysts predict that Sandy Spring Bancorp Inc. will post 3.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $1.12 dividend on an annualized basis and a yield of 3.30%. Sandy Spring Bancorp’s dividend payout ratio is currently 44.09%.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Sandy Spring Bancorp by 10.2% in the 2nd quarter. BlackRock Inc. now owns 2,889,039 shares of the bank’s stock worth $118,480,000 after buying an additional 267,422 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sandy Spring Bancorp by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,383,316 shares of the bank’s stock worth $93,688,000 after buying an additional 137,735 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Sandy Spring Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,645,043 shares of the bank’s stock worth $64,666,000 after buying an additional 43,886 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Sandy Spring Bancorp by 2.9% in the 3rd quarter. Renaissance Technologies LLC now owns 956,210 shares of the bank’s stock worth $37,589,000 after buying an additional 26,500 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Sandy Spring Bancorp by 53.0% in the 3rd quarter. Alliancebernstein L.P. now owns 841,736 shares of the bank’s stock worth $33,089,000 after buying an additional 291,680 shares in the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.
About Sandy Spring Bancorp (NASDAQ:SASR)
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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