R Louis Caceres Sells 14,200 Shares of Sandy Spring Bancorp Inc. (SASR) Stock
Sandy Spring Bancorp Inc. (NASDAQ:SASR) insider R Louis Caceres sold 14,200 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $31.62, for a total transaction of $449,004.00. Following the completion of the transaction, the insider now owns 17,299 shares in the company, valued at $546,994.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Sandy Spring Bancorp Inc. (NASDAQ:SASR) opened at 32.62 on Friday. The firm has a market capitalization of $779.26 million, a price-to-earnings ratio of 16.52 and a beta of 0.80. The stock has a 50 day moving average of $30.82 and a 200 day moving average of $29.85. Sandy Spring Bancorp Inc. has a one year low of $24.17 and a one year high of $33.00.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, October 20th. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.07. Sandy Spring Bancorp had a net margin of 21.86% and a return on equity of 9.58%. During the same quarter in the prior year, the company posted $0.45 earnings per share. Analysts forecast that Sandy Spring Bancorp Inc. will post $1.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 16th. Shareholders of record on Wednesday, November 9th will be issued a dividend of $0.26 per share. This is an increase from Sandy Spring Bancorp’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 3.19%. The ex-dividend date is Monday, November 7th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 52.79%.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Sandy Spring Bancorp by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,624,272 shares of the company’s stock valued at $47,201,000 after buying an additional 49,479 shares during the period. Ameriprise Financial Inc. increased its position in Sandy Spring Bancorp by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 966,314 shares of the company’s stock valued at $28,082,000 after buying an additional 7,217 shares during the period. BlackRock Group LTD increased its position in Sandy Spring Bancorp by 12,109.8% in the third quarter. BlackRock Group LTD now owns 928,797 shares of the company’s stock valued at $28,403,000 after buying an additional 921,190 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Sandy Spring Bancorp by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 746,056 shares of the company’s stock valued at $20,763,000 after buying an additional 5,851 shares during the period. Finally, BlackRock Fund Advisors increased its position in Sandy Spring Bancorp by 7.7% in the third quarter. BlackRock Fund Advisors now owns 656,607 shares of the company’s stock valued at $20,079,000 after buying an additional 46,873 shares during the period. Hedge funds and other institutional investors own 65.12% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Tuesday, October 25th.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking, Insurance and Investment Management. Its 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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