Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) reported quarterly results on Thursday. The bank reported earnings of $0.79 per share for his quarter, missing the consensus estimate of $0.93 ($0.14), reports Briefing.com. Sandy Spring Bancorp had a net profit margin of 31.98% and a return on equity of 11.42%. The company posted $159.6 million in revenue for the quarter, compared to analyst expectations of $128.43 million. During the same period last year, the company earned his EPS of $1.05.
Price performance of Sandy Spring Bancorp
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Shares of SASR opened at $33.19 on Friday. Sandy Spring Bancorp has a year low of $31.49 and a year high of $48.73. The company has a 50-day moving average price of $34.74 and a 200-day moving average price of $36.86. The company has an equity ratio of 0.83, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $1.48 billion, a PE ratio of 8.46 and a beta of 0.93.
Sandy Spring Bancorp Dividend Notice
The business recently announced a quarterly dividend payable on Wednesday, February 15th. Dividends of $0.34 will be issued to shareholders of record on Wednesday, February 8. This represents his $1.36 dividend and his 4.10% dividend yield on an annualized basis. The ex-dividend date is Tuesday, February 7. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 34.78%.
Wall Street analyst opinion
Some equity analysts put a lot of weight on equities. StockNews.com covered Sandy Spring Bancorp shares in its report on Wednesday, October 12th. They put a “Hold” rating on the stock. Piper Sandler reaffirmed her “neutral” rating and set a price target of $39.00 on Sandy Spring Bancorp shares in her Monday, Dec. 5 report. Finally, DA Davidson lowered her price target on Sandy Spring Bancorp stock to her $39.00 in a report on Thursday, Oct. 27.
Hedge funds intervene in Sandy Spring Bancorp
Several hedge funds have recently changed their stock holdings. Raymond James & Associates boosted his position at Sandy Spring Bancorp by 3.5% in the first quarter. Raymond James & Associates now owns 9,584 bank shares worth $431,000 after buying an additional 321 of his shares last quarter. First Republic Investment Management Inc. increased his position in Sandy Spring Bancorp by 2.3% in the second quarter. First Republic Investment Management Inc. now owns 23,576 bank shares worth $921,000 after purchasing an additional 528 shares in the previous quarter. The Royal Bank of Canada raised its position in Sandy Spring Bancorp by 1.4% in the third quarter. Royal Bank of Canada now owns 39,987 shares of the bank worth $1,410,000 after purchasing an additional 549 shares in the previous quarter. Gamco Investors INC. ET AL increased its position in Sandy Spring Bancorp by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 129,451 bank shares worth $5,815,000 after purchasing an additional 629 shares during the previous quarter. Finally, UBS Group AG increased its position in Sandy Spring Bancorp by 5.5% in the third quarter. UBS Group AG now owns 16,010 bank shares worth $564,000 after purchasing a further 835 shares during the previous quarter. Hedge funds and other institutional investors own 64.95% of the company’s shares.
Sandy Springs Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as the bank holding company of Sandy Spring Bank, providing commercial banking, retail banking, mortgage, private banking and trust services to individuals and businesses. He operates in three segments: Community Banking, Insurance and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.
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