LSV Asset Management lifted its stake in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 38.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,300 shares of the bank’s stock after buying an additional 26,500 shares during the quarter. LSV Asset Management owned about 0.40% of Sandy Spring Bancorp worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Citigroup Inc. increased its position in shares of Sandy Spring Bancorp by 12.5% during the second quarter. Citigroup Inc. now owns 7,353 shares of the bank’s stock valued at $298,000 after buying an additional 817 shares during the period. Voya Investment Management LLC boosted its stake in Sandy Spring Bancorp by 5.8% during the second quarter. Voya Investment Management LLC now owns 14,980 shares of the bank’s stock worth $609,000 after acquiring an additional 821 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Sandy Spring Bancorp by 19.5% during the third quarter. Stratos Wealth Partners LTD. now owns 7,967 shares of the bank’s stock worth $330,000 after acquiring an additional 1,301 shares in the last quarter. QS Investors LLC boosted its stake in Sandy Spring Bancorp by 27.3% during the second quarter. QS Investors LLC now owns 6,345 shares of the bank’s stock worth $258,000 after acquiring an additional 1,362 shares in the last quarter. Finally, KBC Group NV bought a new stake in Sandy Spring Bancorp during the third quarter worth about $139,000. Institutional investors own 71.04% of the company’s stock.
Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) traded down $0.54 during midday trading on Wednesday, hitting $38.54. 123,400 shares of the stock traded hands, compared to its average volume of 227,962. The company has a market capitalization of $937.67, a P/E ratio of 17.52, a PEG ratio of 1.01 and a beta of 0.93. Sandy Spring Bancorp Inc. has a 52-week low of $36.41 and a 52-week high of $45.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 2.70%. Sandy Spring Bancorp’s dividend payout ratio is presently 47.27%.
In other news, Director Joe Reeder sold 1,538 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $38.63, for a total value of $59,412.94. Following the transaction, the director now owns 154,473 shares in the company, valued at $5,967,291.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronda M. Mcdowell sold 1,872 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $37.95, for a total transaction of $71,042.40. Following the transaction, the executive vice president now directly owns 5,090 shares of the company’s stock, valued at $193,165.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,956 shares of company stock worth $860,119. Insiders own 2.60% of the company’s stock.
Several research firms recently commented on SASR. Gabelli began coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, December 23rd. BidaskClub lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Sandler O’Neill set a $44.00 price objective on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research note on Friday, January 12th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and an average target price of $44.75.
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Sandy Spring Bancorp 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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