Headlines about Sandy Spring Bancorp (NASDAQ:SASR) have been trending somewhat positive on Wednesday, Accern Sentiment reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Sandy Spring Bancorp earned a daily sentiment score of 0.22 on Accern’s scale. Accern also assigned press coverage about the bank an impact score of 45.9271444687268 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
A number of equities analysts have issued reports on the company. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 4th. Finally, Gabelli started coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $44.80.
Shares of Sandy Spring Bancorp (NASDAQ SASR) traded down $0.38 during trading hours on Wednesday, reaching $39.37. 125,966 shares of the company traded hands, compared to its average volume of 211,003. Sandy Spring Bancorp has a twelve month low of $36.41 and a twelve month high of $45.64. The firm has a market cap of $952.78, a P/E ratio of 16.34, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.07 and a quick ratio of 1.07.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were issued a $0.26 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $1.04 annualized dividend and a yield of 2.64%. Sandy Spring Bancorp’s dividend payout ratio is currently 42.80%.
In other Sandy Spring Bancorp news, Director Joseph S. Bracewell sold 50,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $39.21, for a total value of $1,960,500.00. Following the transaction, the director now directly owns 42,173 shares of the company’s stock, valued at approximately $1,653,603.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joe Reeder sold 1,538 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $38.63, for a total transaction of $59,412.94. Following the completion of the transaction, the director now directly owns 154,473 shares in the company, valued at $5,967,291.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,256 shares of company stock worth $3,660,166. Insiders own 2.60% of the company’s stock.
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About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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