According to Zacks, “SANDY SPRING is a bank holding company for Sandy Spring National Bank of Maryland. The bank is community oriented, and conducts a full-service commercial banking business through community offices located in Montgomery, Howard, Prince George’s and Anne Arundel counties in Maryland. “
Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Sandy Spring Bancorp from a buy rating to a hold rating in a report on Friday, August 9th. Boenning Scattergood assumed coverage on shares of Sandy Spring Bancorp in a report on Monday, June 24th. They issued a buy rating and a $37.25 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Sandy Spring Bancorp has an average rating of Hold and a consensus price target of $37.85.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.79 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. Sandy Spring Bancorp had a net margin of 27.80% and a return on equity of 10.14%. The company had revenue of $82.74 million during the quarter, compared to the consensus estimate of $82.39 million. During the same period last year, the firm earned $0.68 EPS. Sandy Spring Bancorp’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that Sandy Spring Bancorp will post 3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Tuesday, August 13th. Sandy Spring Bancorp’s payout ratio is 41.96%.
Large investors have recently made changes to their positions in the business. Banc Funds Co. LLC boosted its holdings in Sandy Spring Bancorp by 1.7% in the 1st quarter. Banc Funds Co. LLC now owns 844,793 shares of the bank’s stock valued at $26,425,000 after purchasing an additional 14,405 shares during the period. WBI Investments Inc. purchased a new stake in shares of Sandy Spring Bancorp during the 2nd quarter valued at $1,416,000. Norges Bank purchased a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at $14,552,000. California Public Employees Retirement System raised its position in shares of Sandy Spring Bancorp by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 62,342 shares of the bank’s stock valued at $1,950,000 after buying an additional 10,095 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Sandy Spring Bancorp by 6.2% during the 1st quarter. Systematic Financial Management LP now owns 681,096 shares of the bank’s stock valued at $21,305,000 after buying an additional 39,535 shares in the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.
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