Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Director Sells $21,328.14 in Stock

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Director Kenneth C. Cook sold 746 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $28.59, for a total value of $21,328.14. Following the transaction, the director now owns 289,537 shares of the company’s stock, valued at $8,277,862.83. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Sandy Spring Bancorp Price Performance

Shares of SASR opened at $29.12 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day simple moving average of $32.51 and a 200 day simple moving average of $33.51. Sandy Spring Bancorp, Inc. has a 52-week low of $19.52 and a 52-week high of $39.55. The firm has a market capitalization of $1.31 billion, a PE ratio of 64.71 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) 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%. Sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.34 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.36 annualized dividend and a dividend yield of 4.67%. Sandy Spring Bancorp’s dividend payout ratio is presently 302.22%.

Hedge Funds Weigh In On Sandy Spring Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Sandy Spring Bancorp by 96.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after acquiring an additional 34,735 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Sandy Spring Bancorp by 10.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock valued at $25,345,000 after purchasing an additional 75,596 shares in the last quarter. Evermay Wealth Management LLC increased its stake in Sandy Spring Bancorp by 1,296.9% in the 4th quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock valued at $424,000 after buying an additional 11,672 shares during the last quarter. Geode Capital Management LLC increased its stake in Sandy Spring Bancorp by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after buying an additional 35,271 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Sandy Spring Bancorp in the 4th quarter valued at $2,989,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Sandy Spring Bancorp in a research report on Sunday. They set a “sell” rating for the company.

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.