Schwab Charles Investment Management Inc. boosted its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 13.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,929 shares of the bank’s stock after buying an additional 12,044 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Sandy Spring Bancorp were worth $4,138,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in SASR. Victory Capital Management Inc. purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at approximately $177,000. 361 Capital LLC purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at approximately $205,000. Stratos Wealth Partners LTD. increased its stake in shares of Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock valued at $251,000 after buying an additional 301 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at approximately $267,000. Finally, Invictus RG purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at approximately $289,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) traded up 0.41% during trading on Tuesday, reaching $39.00. 6,821 shares of the company traded hands. Sandy Spring Bancorp, Inc. has a 52 week low of $27.86 and a 52 week high of $45.64. The firm has a 50-day moving average price of $39.89 and a 200-day moving average price of $40.97. The company has a market capitalization of $935.49 million, a P/E ratio of 16.70 and a beta of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same period in the prior year, the business posted $0.44 earnings per share. Analysts forecast that Sandy Spring Bancorp, Inc. will post $2.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Monday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is presently 44.26%.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price objective on shares of Sandy Spring Bancorp in a research report on Friday, April 21st. Finally, ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 17th.

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.

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

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