Sandy Spring Bancorp, Inc. to Issue Quarterly Dividend of $0.26 (SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) declared a quarterly dividend on Thursday, July 27th, Wall Street Journal reports. Stockholders of record on Wednesday, August 9th will be given 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 is Monday, August 7th.

Sandy Spring Bancorp (SASR) traded down 0.81% during trading on Friday, hitting $37.81. 73,424 shares of the stock were exchanged. Sandy Spring Bancorp has a 52 week low of $27.86 and a 52 week high of $45.64. The firm has a market cap of $906.95 million, a PE ratio of 16.19 and a beta of 1.02. The firm’s 50-day moving average is $39.91 and its 200 day moving average is $40.99.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping 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 business had revenue of $55.90 million for the quarter, compared to analysts’ expectations of $55.53 million. During the same period in the previous year, the company earned $0.44 earnings per share. Analysts expect that Sandy Spring Bancorp will post $2.51 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th. Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price target on shares of Sandy Spring Bancorp in a report on Friday, April 21st. Finally, BidaskClub cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th.

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Sandy Spring Bancorp Company Profile

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.

Dividend History for Sandy Spring Bancorp (NASDAQ:SASR)

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