Sandy Spring Bancorp, Inc. Announces Quarterly Dividend of $0.34 (NASDAQ:SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Tuesday, May 7th.

Sandy Spring Bancorp has increased its dividend by an average of 4.3% per year over the last three years. Sandy Spring Bancorp has a dividend payout ratio of 48.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sandy Spring Bancorp to earn $2.81 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 48.4%.

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ SASR traded up $0.12 during mid-day trading on Friday, hitting $21.49. The stock had a trading volume of 290,399 shares, compared to its average volume of 302,337. The firm has a market cap of $967.05 million, a PE ratio of 10.53 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50 day moving average of $21.59 and a two-hundred day moving average of $22.92. Sandy Spring Bancorp has a twelve month low of $19.27 and a twelve month high of $27.90.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The business had revenue of $184.38 million for the quarter, compared to analyst estimates of $97.45 million. During the same period in the prior year, the company earned $1.16 earnings per share. Research analysts predict that Sandy Spring Bancorp will post 2.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stephens reissued an "equal weight" rating and set a $25.00 price target on shares of Sandy Spring Bancorp in a research report on Wednesday. StockNews.com cut shares of Sandy Spring Bancorp from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Janney Montgomery Scott initiated coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They issued a "neutral" rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.