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

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Investors of record on Thursday, November 14th will be given a dividend of 0.34 per share by the bank on Thursday, November 21st. This represents a $1.36 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, November 14th.

Sandy Spring Bancorp has increased its dividend payment by an average of 4.3% per year over the last three years. Sandy Spring Bancorp has a dividend payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sandy Spring Bancorp to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 53.5%.

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $33.64 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. The business has a 50-day moving average of $31.79 and a 200 day moving average of $27.17. Sandy Spring Bancorp has a 12 month low of $19.52 and a 12 month high of $34.63.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The business had revenue of $189.81 million during the quarter, compared to analysts’ expectations of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.74%. During the same period in the previous year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.

Analysts Set New Price Targets

SASR has been the subject of several research reports. Keefe, Bruyette & Woods boosted 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 research note on Thursday, July 25th. DA Davidson boosted 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 initiated coverage on Sandy Spring Bancorp in a report on Thursday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, Sandy Spring Bancorp currently has an average rating of “Hold” and an average 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.