Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Announces $0.26 Quarterly Dividend
Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Stockholders of record on Wednesday, August 9th will be paid a dividend of 0.26 per share by the bank on Wednesday, August 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, August 7th.
Sandy Spring Bancorp (NASDAQ SASR) traded down 0.81% on Friday, reaching $37.81. 73,424 shares of the company’s stock traded hands. The stock has a market cap of $906.95 million, a price-to-earnings ratio of 16.19 and a beta of 1.02. Sandy Spring Bancorp has a 52-week low of $27.86 and a 52-week high of $45.64. The company’s 50 day moving average is $39.91 and its 200-day moving average is $40.99.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. The company had revenue of $55.90 million for the quarter, compared to analyst estimates of $55.53 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts expect that Sandy Spring Bancorp will post $2.51 EPS for the current year.
SASR has been the topic of several research reports. BidaskClub lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a research report on Friday, May 19th. ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $40.00 price target on shares of Sandy Spring Bancorp in a research report on Friday, April 21st.
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About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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