Spark Investment Management LLC Has $280,000 Stake in Sandy Spring Bancorp, Inc. (SASR)
Spark Investment Management LLC maintained its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the bank’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Sandy Spring Bancorp were worth $280,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. First Quadrant L P CA purchased a new position in shares of Sandy Spring Bancorp during the second quarter valued at about $146,000. Victory Capital Management Inc. purchased a new position in shares of Sandy Spring Bancorp during the first quarter valued at about $177,000. 361 Capital LLC purchased a new position in shares of Sandy Spring Bancorp during the first quarter valued at about $205,000. Stratos Wealth Partners LTD. raised its position in shares of Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock valued at $251,000 after buying an additional 301 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Sandy Spring Bancorp during the first quarter valued at about $267,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Sandy Spring Bancorp, Inc. (NASDAQ SASR) opened at 38.49 on Wednesday. The firm’s 50 day moving average price is $39.86 and its 200 day moving average price is $40.96. The stock has a market cap of $923.26 million, a price-to-earnings ratio of 16.48 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a one year low of $27.86 and a one year high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $55.90 million during the quarter, compared to the consensus estimate of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities analysts forecast that Sandy Spring Bancorp, Inc. will post $2.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, August 7th. Sandy Spring Bancorp’s payout ratio is currently 44.26%.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, July 25th. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 price objective on shares of Sandy Spring Bancorp in a report on Friday, April 21st. Finally, ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a 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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