Sandy Spring Bancorp (SASR) Declares $0.34 Dividend
Sandy Spring Bancorp said on October 26, 2023 that its board of directors declared a regular quarterly dividend of $0.34 per share ($1.36 annualized). Previously, the company paid $0.34 per share.
Shares must be purchased before the ex-div date of November 7, 2023 to qualify for the dividend. Shareholders of record as of November 8, 2023 will receive the payment on November 15, 2023.
At the current share price of $20.10 / share, the stock's dividend yield is 6.77%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.88%, the lowest has been 2.52%, and the highest has been 6.88%. The standard deviation of yields is 1.06 (n=236).
The current dividend yield is 2.73 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.47. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 418 funds or institutions reporting positions in Sandy Spring Bancorp. This is a decrease of 25 owner(s) or 5.64% in the last quarter. Average portfolio weight of all funds dedicated to SASR is 0.09%, a decrease of 13.03%. Total shares owned by institutions decreased in the last three months by 1.98% to 37,967K shares. 
The put/call ratio of SASR is 4.24, indicating a bearish outlook.
Analyst Price Forecast Suggests 20.52% Upside
As of October 5, 2023, the average one-year price target for Sandy Spring Bancorp is 24.22. The forecasts range from a low of 22.22 to a high of $26.25. The average price target represents an increase of 20.52% from its latest reported closing price of 20.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sandy Spring Bancorp is 461MM, an increase of 3.03%. The projected annual non-GAAP EPS is 3.69.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 2,539K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 1,657K shares, representing an increase of 34.73%. The firm increased its portfolio allocation in SASR by 27.07% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,574K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 1,044K shares, representing an increase of 33.68%. The firm increased its portfolio allocation in SASR by 30.00% over the last quarter.
Invesco holds 1,367K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 933K shares, representing an increase of 31.76%. The firm increased its portfolio allocation in SASR by 1,198.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,326K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,324K shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in SASR by 19.36% over the last quarter.
PEY - Invesco High Yield Equity Dividend Achievers ETF holds 1,255K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 816K shares, representing an increase of 35.00%. The firm increased its portfolio allocation in SASR by 75.56% over the last quarter.
Sandy Spring Bancorp Background Information
(This description is provided by the company.)
Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 60 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services.
Additional reading:
- 3rd Quarter 2023 Earnings Presentation October 24, 2023 1 2 Subtitle Copy Sandy Spring Bancorp’s forward-looking statements are subject to significant risks and uncertainties that may cause actual results to differ materially from those in such state
- SANDY SPRING BANCORP REPORTS THIRD QUARTER EARNINGS OF $20.7 MILLION
- 2nd Quarter 2023 Earnings Presentation July 25, 2023 1 2 Subtitle Copy Sandy Spring Bancorp’s forward-looking statements are subject to significant risks and uncertainties that may cause actual results to differ materially from those in such statemen
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