Sandy Spring Bancorp (SASR) Reaches New 52-Week Low at $32.33

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Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $32.33 and last traded at $32.44, with a volume of 5282 shares traded. The stock had previously closed at $32.88.

A number of analysts have issued reports on the company. BidaskClub lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Boenning Scattergood raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Monday, November 19th. Zacks Investment Research lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, Robert W. Baird raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Friday, October 19th. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Sandy Spring Bancorp currently has a consensus rating of “Hold” and a consensus target price of $45.14.

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.17 billion, a PE ratio of 12.79, a PEG ratio of 0.94 and a beta of 0.67.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 18th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. The business had revenue of $82.62 million during the quarter, compared to analyst estimates of $82.74 million. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, research analysts anticipate that Sandy Spring Bancorp Inc. will post 3.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Tuesday, November 13th. Sandy Spring Bancorp’s payout ratio is 44.09%.

Large investors have recently modified their holdings of the business. Vanguard Group Inc lifted its stake in shares of Sandy Spring Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 1,645,043 shares of the bank’s stock valued at $64,666,000 after purchasing an additional 43,886 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sandy Spring Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,645,043 shares of the bank’s stock valued at $64,666,000 after purchasing an additional 43,886 shares in the last quarter. Penn Capital Management Co. Inc. lifted its stake in shares of Sandy Spring Bancorp by 39.4% in the 3rd quarter. Penn Capital Management Co. Inc. now owns 117,849 shares of the bank’s stock valued at $4,633,000 after purchasing an additional 33,292 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Sandy Spring Bancorp by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 66,309 shares of the bank’s stock valued at $2,607,000 after purchasing an additional 1,675 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Sandy Spring Bancorp by 2.5% in the 3rd quarter. AQR Capital Management LLC now owns 158,599 shares of the bank’s stock valued at $6,234,000 after purchasing an additional 3,857 shares in the last quarter. 69.09% of the stock is currently owned by hedge funds and other institutional investors.

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About Sandy Spring Bancorp (NASDAQ:SASR)

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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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