Hennion & Walsh Asset Management Inc. invests $307,000 in Sandy Spring Bancorp, Inc. (NASDAQ: SASR)


Hennion & Walsh Asset Management Inc. acquired a new position in Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating) during the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission. The fund bought 6,838 shares of the bank, valued at around $307,000.

Other institutional investors and hedge funds also changed their positions in the company. Prosperity Consulting Group LLC acquired a new position in shares of Sandy Spring Bancorp in Q4 worth approximately $212,000. Gamco Investors Inc. ET AL increased its holdings of Sandy Spring Bancorp shares by 4.0% in the 4th quarter. Gamco Investors Inc. ET AL now owns 128,822 shares of the bank worth $6,194,000 after acquiring 4,936 additional shares in the last quarter. Keebeck Alpha LP acquired a new position in shares of Sandy Spring Bancorp in Q4 worth approximately $222,000. Kestra Advisory Services LLC increased its holdings of Sandy Spring Bancorp shares by 28.1% in Q4. Kestra Advisory Services LLC now owns 83,321 shares of the bank worth $4,006,000 after acquiring an additional 18,265 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings of Sandy Spring Bancorp shares by 3,707.8% in the 4th quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank worth $24,905,000 after acquiring an additional 504,374 shares last quarter. 66.43% of the shares are currently held by institutional investors and hedge funds.

Several research companies have recently weighed in on SASR. Keefe, Bruyette & Woods cut shares of Sandy Spring Bancorp from an “outperform” rating to a “market performer” rating and lowered their price target for the stock from $53.00 to 50.00 $ in a Friday, April 22 research report. DA Davidson began covering Sandy Spring Bancorp shares in a research report on Tuesday, March 22. They issued a “buy” rating and a price target of $61.00 for the company. To finish, StockNews.com began covering Sandy Spring Bancorp shares in a research report on Thursday, March 31. They issued a “holding” rating for the company.

Shares of Sandy Spring Bancorp Stock opened at $37.18 on Friday. The company has a fifty-day moving average of $39.82 and a two-hundred-day moving average of $43.80. The stock has a market capitalization of $1.68 billion, a price-earnings ratio of 8.57 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a 52-week low of $36.84 and a 52-week high of $52.04. The company has a debt ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.96.

Sandy Spring Bankcorp (NASDAQ: SASRGet a rating) last reported results on Thursday, April 21. The bank reported EPS of $0.99 for the quarter, beating the consensus estimate of $0.92 by $0.07. The company posted revenue of $122.05 million in the quarter, compared to $126.05 million expected by analysts. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 12.96%. In the same quarter a year earlier, the company posted EPS of $1.20. As a group, research analysts expect Sandy Spring Bancorp, Inc. to post EPS of 3.88 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 18. Shareholders of record on Wednesday, May 11 received a dividend of $0.34 per share. This represents an annualized dividend of $1.36 and a dividend yield of 3.66%. The ex-dividend date was Tuesday, May 10. Sandy Spring Bancorp’s payout ratio is 31.34%.

Sandy Spring Bancorp Company Profile (Get a rating)

Sandy Spring Bancorp, Inc operates as a bank holding company for Sandy Spring Bank which provides commercial and retail banking, mortgage, private banking and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.

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Institutional ownership by quarter for Sandy Spring Bancorp (NASDAQ:SASR)



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