Sandy Spring Bancorp (NASDAQ:SASR) Shares Gap Down – Here’s What Happened

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) gapped down prior to trading on Friday . The stock had previously closed at $33.77, but opened at $32.98. Sandy Spring Bancorp shares last traded at $33.89, with a volume of 21,153 shares changing hands.

Wall Street Analysts Forecast Growth

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

Sandy Spring Bancorp Price Performance

The company has a 50-day moving average of $33.99 and a 200-day moving average of $33.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 74.78 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. As a group, equities research analysts predict that Sandy Spring Bancorp, Inc. will post 2.51 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.04%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 302.23%.

Institutional Investors Weigh In On Sandy Spring Bancorp

A number of hedge funds have recently added to or reduced their stakes in SASR. LPL Financial LLC raised its stake in shares of Sandy Spring Bancorp by 1.8% during the 4th quarter. LPL Financial LLC now owns 16,987 shares of the bank’s stock worth $573,000 after buying an additional 297 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in Sandy Spring Bancorp by 1.5% during the fourth quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock worth $678,000 after acquiring an additional 302 shares during the period. Cerity Partners LLC raised its position in Sandy Spring Bancorp by 1.4% in the fourth quarter. Cerity Partners LLC now owns 26,583 shares of the bank’s stock worth $895,000 after acquiring an additional 374 shares in the last quarter. First National Trust Co lifted its holdings in Sandy Spring Bancorp by 5.2% in the third quarter. First National Trust Co now owns 10,050 shares of the bank’s stock valued at $315,000 after acquiring an additional 500 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Sandy Spring Bancorp by 2.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after purchasing an additional 609 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

About Sandy Spring Bancorp

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.