Vanguard Group Inc. Boosts Position in Sandy Spring Bancorp, Inc. (SASR)
Vanguard Group Inc. boosted its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,192 shares of the bank’s stock after buying an additional 51,096 shares during the period. Vanguard Group Inc.’s holdings in Sandy Spring Bancorp were worth $44,360,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Sandy Spring Bancorp by 59.0% in the first quarter. Bank of New York Mellon Corp now owns 251,438 shares of the bank’s stock valued at $10,306,000 after buying an additional 93,343 shares in the last quarter. First Trust Advisors LP raised its stake in shares of 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 in the last quarter. 361 Capital LLC bought a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $205,000. Chicago Equity Partners LLC raised its stake in shares of 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 in the last quarter. Finally, Bowling Portfolio Management LLC bought a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $807,000. 66.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sandy Spring Bancorp, Inc. (NASDAQ SASR) traded down 0.81% during midday trading on Friday, reaching $37.81. The company’s stock had a trading volume of 73,424 shares. The stock has a 50 day moving average price of $39.91 and a 200-day moving average price of $40.99. The company has a market capitalization of $906.95 million, a price-to-earnings ratio of 16.19 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 results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business had revenue of $55.90 million for the quarter, compared to analyst estimates of $55.53 million. Sandy Spring Bancorp had a return on equity of 10.44% and a net margin of 24.33%. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities research analysts expect that Sandy Spring Bancorp, Inc. will post $2.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is 44.26%.
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Several equities research analysts have weighed in on the company. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, July 25th. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 target price on shares of Sandy Spring Bancorp in a research report on Friday, April 21st.
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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