Parametric Portfolio Associates LLC lifted its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 46.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,478 shares of the bank’s stock after buying an additional 20,961 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.28% of Sandy Spring Bancorp worth $2,703,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Sandy Spring Bancorp by 197,021.4% during the second quarter. Bank of Montreal Can now owns 27,597 shares of the bank’s stock valued at $1,123,000 after purchasing an additional 27,583 shares in the last quarter. WBI Investments Inc. purchased a new stake in shares of Sandy Spring Bancorp in the second quarter valued at $1,113,000. Alliancebernstein L.P. raised its stake in shares of Sandy Spring Bancorp by 0.5% in the first quarter. Alliancebernstein L.P. now owns 39,491 shares of the bank’s stock valued at $1,619,000 after acquiring an additional 200 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Sandy Spring Bancorp by 42.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock worth $5,865,000 after purchasing an additional 43,299 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Sandy Spring Bancorp in the second quarter worth about $5,524,000. 68.60% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on SASR shares. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. BidaskClub cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Sandy Spring Bancorp has a consensus rating of “Hold” and an average target price of $42.00.
Sandy Spring Bancorp, Inc. (NASDAQ SASR) opened at $38.52 on Tuesday. Sandy Spring Bancorp, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $45.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $917.27, a price-to-earnings ratio of 15.86 and a beta of 1.02.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $55.44 million during the quarter, compared to analysts’ expectations of $58.34 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. During the same quarter last year, the firm posted $0.56 earnings per share. research analysts expect that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.70%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 43.15%.
Sandy Spring Bancorp 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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