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Snatch This Bargain Dividend Stock Even Cheaper Than Director Little Did

By Dividend Channel Staff, Friday, November 18, 3:48 PM ET
Play Video: One Reason For Insiders to Buy


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There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 25, Sandy Spring Bancorp's Director, Pamela A Little, invested $17,192.91 into 973 shares of SASR, for a cost per share of $17.67. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Friday, bargain hunters could buy shares of Sandy Spring Bancorp (NASDAQ:SASR) and achieve a cost basis 7.5% cheaper than Little, with shares changing hands as low as $16.35 per share. It should be noted that Little has collected $0.18/share in dividends since the time of their purchase, so they are currently down 6.5% on their purchase from a total return basis. Sandy Spring Bancorp shares are currently trading up about 2.9% on the day. The chart below shows the one year performance of SASR shares, versus its 200 day moving average:

Sandy Spring Bancorp Chart

Looking at the chart above, SASR's low point in its 52 week range is $13.64 per share, with $19.94 as the 52 week high point that compares with a last trade of $16.80. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
05/25/2011 Pamela A Little Director 973 $17.67 $17,192.91
05/25/2011 Craig A Ruppert Director 860 $17.67 $15,196.20
10/06/2011 Gary Nakamoto Director 10 $15.64 $156.36

The current annualized dividend paid by Sandy Spring Bancorp is $0.40/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/07/2011. Below is a long-term dividend history chart for SASR, which can be of good help in judging whether the most recent dividend with approx. 2.5% annualized yield is likely to continue.

SASR operates in the Banking & Savings sector, among companies like Northern Trust Corp. (NASDAQ:NTRS) which is down about 0.3% today, and CrediCorp Ltd. (NYSE:BAP) trading lower by about 0.9%. Below is a three month price history chart comparing the stock performance of SASR, versus NTRS and BAP.

SASR,NTRS,BAP Relative Performance Chart


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This Article's Word Cloud:   Bancorp   Below   Definition   Director   Importance   Insider   Little   NTRS   Pamela   Price   SASR   Sandy   Spring   about   annualized   asset   below   buying   chart   cost   currently   designed   dividend   down   escape   fillColor   history   hunters   insider   last   like   only   paid   performance   point   portfolio   purchase   reason   share   shares   stock   that   their   there   they   trading   versus   week   which   with

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