Kenneth C. Cook's Recent Sale of Sandy Spring Bancorp Shares

Sandy Spring Bancorp, Inc. (NASDAQ: SASR) experienced a notable transaction on March 12th when Director Kenneth C. Cook sold 746 shares of the company. The shares were sold at an average price of $28.59, leading to a total transaction value of $21,328.14.

As a result of this sale, Kenneth C. Cook now holds 289,537 shares in Sandy Spring Bancorp, which are valued at approximately $8,277,862.83. This sale equates to a 0.26% reduction in his ownership stake in the company. The details of this transaction were filed with the Securities and Exchange Commission (SEC) and can be reviewed in their official records.

Recent Performance of Sandy Spring Bancorp

On the following Friday, the shares of Sandy Spring Bancorp traded at $28.95, reflecting an increase of $0.25 during midday trading. The trading volume at that time was 58,509 shares, significantly lower than the average volume of 243,654 shares. Over the past weeks, Sandy Spring Bancorp has had a fifty-day moving average price of $32.59 and a 200-day moving average price of $33.48. Currently, the company boasts a market capitalization of $1.31 billion, with a PE ratio of 64.33 and a beta of 0.96. The bank's debt-to-equity ratio stands at 0.50, and both the current and quick ratios are measured at 1.02. Additionally, Sandy Spring Bancorp has displayed a one-year low of $19.52 and a one-year high of $39.55.

Quarterly Earnings Report

Sandy Spring Bancorp released its quarterly earnings data on January 28th, reporting an earnings per share (EPS) of $0.47. This fell slightly short of the consensus estimate of $0.48 by $0.01. The company's net margin is reported at 2.65%, with a return on equity of 5.31%. Analysts forecast that Sandy Spring Bancorp is expected to post an EPS of 2.48 for the ongoing financial year.

Dividend Announcement

In addition to the recent transaction by Kenneth C. Cook, Sandy Spring Bancorp also declared a quarterly dividend that was paid out on February 19th. Shareholders who were on record as of February 12th received a dividend of $0.34 per share, which indicates an annualized dividend of $1.36 and a yield of 4.70%. It is important to note that the company's dividend payout ratio (DPR) is currently at 302.22%.

Analyst Ratings and Price Targets

In recent developments, StockNews.com initiated coverage on Sandy Spring Bancorp, issuing a "sell" rating on the stock on March 8th, indicating a cautious outlook from analysts on the company's performance.

Institutional Ownership Changes

Recently, various institutional investors have adjusted their positions in Sandy Spring Bancorp. First National Trust Co increased its holdings by 5.2%, now owning 10,050 shares valued at $315,000. Additionally, Victory Capital Management Inc. raised its stake by 15.1%, with 799,835 shares worth approximately $25,091,000. Empowered Funds LLC also increased its position by 5.3%, now holding 112,409 shares valued at $3,526,000. Furthermore, Stieven Capital Advisors L.P. acquired a new stake valued around $4,906,000. Finally, Meeder Asset Management Inc. expanded its holdings by 66.2%, owning 7,952 shares worth $249,000. With these adjustments, institutional investors collectively hold 66.90% of Sandy Spring Bancorp's shares.

About Sandy Spring Bancorp

Sandy Spring Bancorp operates as the parent company for Sandy Spring Bank, providing a range of banking services, including commercial and retail banking, mortgage lending, private banking, and trust services to its clients across the United States. The company offers various financial products and services, including a wide array of loan and deposit options.

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