Principal Financial Group Inc. decreased its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,645 shares of the bank’s stock after selling 6,501 shares during the quarter. Principal Financial Group Inc. owned about 0.63% of Sandy Spring Bancorp worth $6,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Sandy Spring Bancorp by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,390 shares of the bank’s stock valued at $72,676,000 after acquiring an additional 28,837 shares during the period. Vanguard Group Inc. raised its holdings in Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after acquiring an additional 10,359 shares during the period. Goldman Sachs Group Inc. raised its holdings in Sandy Spring Bancorp by 13.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock valued at $32,854,000 after acquiring an additional 98,650 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Sandy Spring Bancorp by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 535,327 shares of the bank’s stock valued at $21,766,000 after acquiring an additional 1,429 shares during the period. Finally, State Street Corp raised its holdings in Sandy Spring Bancorp by 16.9% during the 2nd quarter. State Street Corp now owns 523,549 shares of the bank’s stock valued at $21,287,000 after acquiring an additional 75,500 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

SASR has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.00.

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) opened at $39.38 on Friday. The company has a market cap of $944.87, a price-to-earnings ratio of 16.19 and a beta of 0.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. Sandy Spring Bancorp, Inc. has a 1 year low of $36.50 and a 1 year high of $45.64.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The firm had revenue of $55.44 million for 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 earned $0.56 earnings per share. sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.64%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 43.15%.

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About Sandy Spring Bancorp

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.

Institutional Ownership by Quarter for Sandy Spring Bancorp (NASDAQ:SASR)

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