Sandy Spring Bancorp (NASDAQ:SASR) Sees Strong Trading Volume – Here’s Why

Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) saw strong trading volume on Monday . 148,097 shares traded hands during trading, an increase of 23% from the previous session’s volume of 120,101 shares.The stock last traded at $33.29 and had previously closed at $32.96.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a research report on Friday, January 3rd. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.25.

Sandy Spring Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $31.93. The firm has a market capitalization of $1.45 billion, a P/E ratio of 16.95 and a beta of 0.98.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same quarter in the prior year, the firm earned $0.62 EPS. On average, research analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.22%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 71.58%.

Institutional Investors Weigh In On Sandy Spring Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Sandy Spring Bancorp in the 3rd quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new position in shares of Sandy Spring Bancorp during the second quarter valued at approximately $117,000. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the third quarter worth $170,000. Inspire Advisors LLC purchased a new stake in Sandy Spring Bancorp in the 2nd quarter valued at $217,000. Finally, Stifel Financial Corp bought a new position in Sandy Spring Bancorp during the 3rd quarter valued at $217,000. Institutional investors own 66.90% of the company’s stock.

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.