Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Director Kenneth C. Cook Sells 746 Shares of Stock

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Director Kenneth C. Cook sold 746 shares of Sandy Spring Bancorp stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $28.59, for a total transaction of $21,328.14. Following the transaction, the director now owns 289,537 shares in the company, valued at approximately $8,277,862.83. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sandy Spring Bancorp Price Performance

SASR stock opened at $29.12 on Friday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 64.71 and a beta of 0.96. 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, Inc. has a 12-month low of $19.52 and a 12-month high of $39.55. The company’s fifty day simple moving average is $32.59 and its 200 day simple moving average is $33.48.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 302.22%.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC increased its position in shares of Sandy Spring Bancorp by 1.8% during the fourth quarter. LPL Financial LLC now owns 16,987 shares of the bank’s stock worth $573,000 after acquiring an additional 297 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Sandy Spring Bancorp by 1.5% in the 4th quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock worth $678,000 after purchasing an additional 302 shares in the last quarter. Cerity Partners LLC grew its position in Sandy Spring Bancorp by 1.4% in the 4th quarter. Cerity Partners LLC now owns 26,583 shares of the bank’s stock worth $895,000 after purchasing an additional 374 shares in the last quarter. Tidal Investments LLC grew its position in Sandy Spring Bancorp by 1.5% in the 4th quarter. Tidal Investments LLC now owns 27,940 shares of the bank’s stock worth $942,000 after purchasing an additional 409 shares in the last quarter. Finally, First National Trust Co grew its position in Sandy Spring Bancorp by 5.2% in the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after purchasing an additional 500 shares in the last quarter. 66.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a report on Saturday, March 8th. They set a “sell” rating on the 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.