Chevy Chase Trust Holdings Inc. reduced its stake in Sandy Spring Bancorp, Inc. (NASDAQ: SASR – Get a rating) by 1.6% in the first quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor held 56,597 shares of the bank after selling 930 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.12% of Sandy Spring Bancorp worth $2,542,000 when it last filed with the Securities & Exchange Commission.
A number of other institutional investors have also been buying and selling stocks recently. Westwood Holdings Group Inc. increased its position in Sandy Spring Bancorp by 20.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,383,088 shares of the bank worth $66,499,000 after purchasing an additional 236,765 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Sandy Spring Bancorp by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 756,403 shares of the bank worth $36,368,000 after buying 30,872 additional shares in the last quarter. Victory Capital Management Inc. increased its position in Sandy Spring Bancorp by 3,707.8% during the 4th quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank worth $24,905,000 after purchasing an additional 504,374 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sandy Spring Bancorp by 14.4% in the fourth quarter. JPMorgan Chase & Co. now owns 226,112 shares of the bank worth $10,872,000 after buying 28,451 additional shares in the last quarter. Finally, Congress Asset Management Co. MA increased its position in Sandy Spring Bancorp by 5.7% during the 1st quarter. Congress Asset Management Co. MA now owns 172,535 shares of the bank worth $7,750,000 after buying 9,247 additional shares in the last quarter. 66.43% of the shares are currently held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
SASR has been the subject of several recent research reports. StockNews.com launched a hedge on shares of Sandy Spring Bancorp in a Thursday, March 31 report. They set a “holding” rating for the company. Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an “outperform” rating to a “market performer” rating and reduced their target price for the company from $53.00 to $50.00 in a report from Friday, April 22. Finally, DA Davidson launched a hedge on Sandy Spring Bancorp stock in a Tuesday, March 22 report. They set a “buy” rating and a target price of $61.00 for the company.
Sandy Spring Bancorp Price Performance
NASDAQ: SASR opened at $38.30 on Monday. The company has a 50-day moving average price of $39.81 and a 200-day moving average price of $43.68. Sandy Spring Bancorp, Inc. has a 1-year low of $36.84 and a 1-year high of $52.04. The company has a market capitalization of $1.73 billion, a price-earnings ratio of 8.82 and a beta of 1.02. The company has a debt ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96.
Sandy Spring Bankcorp (NASDAQ: SASR – Get a rating) last released its quarterly results on Thursday, April 21. The bank reported earnings per share (EPS) of $0.99 for the quarter, beating consensus analyst estimates of $0.92 by $0.07. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 12.96%. The company posted revenue of $122.05 million for the quarter, compared to $126.05 million expected by analysts. In the same quarter last year, the company achieved EPS of $1.20. Equity research analysts expect Sandy Spring Bancorp, Inc. to post EPS of 3.88 for the current year.
Sandy Spring Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18. Investors of record on Wednesday, May 11 received a dividend of $0.34. The ex-dividend date was Tuesday, May 10. This represents a dividend of $1.36 on an annualized basis and a yield of 3.55%. Sandy Spring Bancorp’s dividend payout ratio is currently 31.34%.
Sandy Spring Bancorp Company Profile
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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