Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to Issue $0.34 Quarterly Dividend

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Wednesday, February 12th will be paid a dividend of 0.34 per share by the bank on Wednesday, February 19th. This represents a $1.36 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, February 12th.

Sandy Spring Bancorp has increased its dividend by an average of 2.0% per year over the last three years. Sandy Spring Bancorp has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings.

Sandy Spring Bancorp Stock Performance

SASR traded up $0.22 during mid-day trading on Friday, reaching $33.83. 256,196 shares of the company traded hands, compared to its average volume of 251,580. The company’s fifty day moving average price is $34.81 and its 200-day moving average price is $32.87. The stock has a market capitalization of $1.53 billion, a P/E ratio of 75.18 and a beta of 0.98. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp has a 52-week low of $19.52 and a 52-week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. On average, sell-side analysts expect that Sandy Spring Bancorp will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Sandy Spring Bancorp in a research note on Monday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.25.

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.