Bowling Portfolio Management LLC raised its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 61.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,760 shares of the bank’s stock after buying an additional 12,080 shares during the period. Bowling Portfolio Management LLC owned about 0.13% of Sandy Spring Bancorp worth $1,291,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in Sandy Spring Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 44,132 shares of the bank’s stock valued at $1,809,000 after buying an additional 3,797 shares during the last quarter. 361 Capital LLC acquired a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $205,000. Chicago Equity Partners LLC raised its stake in Sandy Spring Bancorp by 109.4% in the first quarter. Chicago Equity Partners LLC now owns 102,565 shares of the bank’s stock valued at $4,204,000 after buying an additional 53,595 shares during the last quarter. Wells Fargo & Company MN raised its stake in Sandy Spring Bancorp by 15.0% in the first quarter. Wells Fargo & Company MN now owns 66,823 shares of the bank’s stock valued at $2,739,000 after buying an additional 8,736 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Sandy Spring Bancorp by 18.5% in the first quarter. Russell Investments Group Ltd. now owns 23,100 shares of the bank’s stock valued at $947,000 after buying an additional 3,600 shares during the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.
Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) opened at 39.67 on Thursday. The stock’s 50 day moving average is $40.10 and its 200 day moving average is $41.02. The stock has a market cap of $951.41 million, a price-to-earnings ratio of 16.97 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a 52-week low of $27.86 and a 52-week high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a return on equity of 10.52% and a net margin of 24.33%. The firm had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. During the same period last year, the business posted $0.44 earnings per share. On average, equities analysts predict that Sandy Spring Bancorp, Inc. will post $2.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, August 7th. Sandy Spring Bancorp’s payout ratio is 44.26%.
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Several research firms have recently commented on SASR. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 price target on shares of Sandy Spring Bancorp in a research report on Friday, April 21st. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, July 25th. BidaskClub lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th.
Sandy Spring Bancorp Company Profile
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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