Stratos Wealth Partners LTD. acquired a new stake in Sandy Spring Bancorp, Inc. (NASDAQ: SASR – Get a rating) during Q1, according to its most recently filed Form 13F with the SEC. The institutional investor purchased 8,950 shares of the bank, valued at approximately $402,000.
Several other large investors have also recently bought and sold shares of SASR. Victory Capital Management Inc. increased its holdings in Sandy Spring Bancorp by 3,707.8% in the fourth quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank valued at $24,905,000 after acquiring an additional 504,374 shares during the period. Westwood Holdings Group Inc. increased its equity stake 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 during the period. Fiera Capital Corp bought a new position in shares of Sandy Spring Bancorp during the fourth quarter for a value of approximately $4,638,000. Trillium Asset Management LLC purchased a new stock position in Sandy Spring Bancorp during the fourth quarter worth approximately $2,786,000. Finally, American Century Companies Inc. increased its equity stake in Sandy Spring Bancorp by 228.6% during the fourth quarter. American Century Companies Inc. now owns 78,728 shares of the bank worth $3,785,000 after purchasing an additional 54,768 shares during the period. 66.43% of the shares are held by institutional investors.
Sandy Spring Bancorp Stock Performance
Shares of NASDAQ: SASR opened at $38.30 on Friday. The company’s 50-day simple moving average is $39.81 and its 200-day simple moving average is $43.71. The stock 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 Bancorp, Inc. has a 1-year low of $36.84 and a 1-year high of $52.04.
Sandy Spring Bankcorp (NASDAQ: SASR – Get a rating) last reported quarterly earnings data 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. The company posted revenue of $122.05 million for 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%. During the same period last year, the company posted earnings per share of $1.20. As a group, research analysts predict that Sandy Spring Bancorp, Inc. will post EPS of 3.88 for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
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. 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%.
Changes to analyst ratings
Several research analysts recently commented on the title. Keefe, Bruyette & Woods reduced shares of Sandy Spring Bancorp from an “outperform” rating to a “market performer” rating and lowered their target price for the stock from $53.00 to $50.00 in a report on Friday, April 22. StockNews.com supposed coverage of Sandy Spring Bancorp shares in a Thursday, March 31 report. They have placed a “holding” rating on the stock. Finally, DA Davidson launched a hedge on Sandy Spring Bancorp shares in a Tuesday, March 22 report. They set a “buy” rating and a target price of $61.00 on the stock.
About Sandy Spring Bancorp
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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