Sandy Spring Bancorp (NASDAQ:SASR) Hits New 1-Year High at $32.14

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.14 and last traded at $31.24, with a volume of 462987 shares trading hands. The stock had previously closed at $30.75.

Analysts Set New Price Targets

Several analysts have commented on the stock. DA Davidson increased their price target on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.00.

Sandy Spring Bancorp Trading Down 2.3 %

The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.39 billion, a PE ratio of 15.13 and a beta of 0.96. The stock has a 50-day moving average of $28.61 and a 200 day moving average of $24.36.

Sandy Spring Bancorp (NASDAQ:SASR) last released 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. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. The business had revenue of $184.70 million during the quarter, compared to analyst estimates of $99.60 million. During the same quarter last year, the business posted $0.60 EPS. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

Institutional Trading of Sandy Spring Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. raised its position in shares of Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock worth $287,000 after acquiring an additional 412 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Sandy Spring Bancorp by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after purchasing an additional 723 shares during the period. Truist Financial Corp boosted its position in Sandy Spring Bancorp by 2.7% during the fourth quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock worth $1,050,000 after purchasing an additional 1,026 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Sandy Spring Bancorp by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock valued at $321,000 after buying an additional 1,176 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Sandy Spring Bancorp by 8.2% in the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock worth $402,000 after buying an additional 1,316 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

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.