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

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Director Kenneth C. Cook sold 746 shares of the business’s stock in a transaction dated 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 $8,277,862.83. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $29.12 on Monday. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 64.71 and a beta of 0.96. 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 company has a 50-day simple moving average of $32.51 and a 200 day simple moving average of $33.51. Sandy Spring Bancorp, Inc. has a 52 week low of $19.52 and a 52 week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its 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%. On average, sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research note on Sunday. They set a “sell” rating on the stock.

Institutional Trading of Sandy Spring Bancorp

A number of institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in Sandy Spring Bancorp by 45.8% in the 4th quarter. Franklin Resources Inc. now owns 1,853,807 shares of the bank’s stock valued at $62,492,000 after purchasing an additional 582,309 shares during the period. Systematic Financial Management LP boosted its holdings in Sandy Spring Bancorp by 8.9% in the 4th quarter. Systematic Financial Management LP now owns 1,116,052 shares of the bank’s stock valued at $37,622,000 after purchasing an additional 90,825 shares during the period. Geode Capital Management LLC boosted its holdings in Sandy Spring Bancorp by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after purchasing an additional 35,271 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Sandy Spring Bancorp by 16.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 937,531 shares of the bank’s stock valued at $31,604,000 after purchasing an additional 129,591 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Sandy Spring Bancorp by 0.8% in the 4th quarter. American Century Companies Inc. now owns 893,547 shares of the bank’s stock valued at $30,121,000 after purchasing an additional 6,815 shares during the period. 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.