Sandy Spring Bancorp, Inc. (SASR) To Go Ex-Dividend on May 7th

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.34 per share by the bank on Wednesday, May 15th. This represents a $1.36 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Tuesday, May 7th.

Sandy Spring Bancorp has raised its dividend payment by an average of 4.3% annually over the last three years. Sandy Spring Bancorp has a payout ratio of 50.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sandy Spring Bancorp to earn $2.69 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 50.6%.

Sandy Spring Bancorp Stock Up 2.4 %

Shares of NASDAQ SASR opened at $22.24 on Friday. The stock has a fifty day moving average price of $21.48 and a 200 day moving average price of $22.96. The company has a market cap of $1.00 billion, a P/E ratio of 10.90 and a beta of 0.94. Sandy Spring Bancorp has a 12-month low of $19.27 and a 12-month high of $27.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.77.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.69%. During the same quarter last year, the company earned $1.16 earnings per share. Research analysts anticipate that Sandy Spring Bancorp will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SASR. Stephens reaffirmed an “equal weight” rating and issued a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday, April 24th. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, Janney Montgomery Scott started coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They set a “neutral” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.50.

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.