Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Declares Quarterly Dividend of $0.34

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Wednesday, February 12th will be given a dividend of 0.34 per share by the bank on Wednesday, February 19th. This represents a $1.36 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, February 12th.

Sandy Spring Bancorp has increased its dividend by an average of 2.0% per year over the last three years. Sandy Spring Bancorp has a dividend payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings.

Sandy Spring Bancorp Stock Performance

SASR opened at $34.40 on Monday. 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 stock’s 50 day moving average price is $34.37 and its two-hundred day moving average price is $33.11. The firm has a market capitalization of $1.55 billion, a P/E ratio of 76.45 and a beta of 0.97. Sandy Spring Bancorp has a 12-month low of $19.52 and a 12-month high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing the consensus estimate 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 analysts forecast that Sandy Spring Bancorp will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a research report on Tuesday, February 4th. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.25.

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.