Stratos Wealth Partners LTD. increased its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,666 shares of the bank’s stock after buying an additional 551 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sandy Spring Bancorp were worth $271,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Quadrant L P CA bought a new position in shares of Sandy Spring Bancorp during the second quarter worth $146,000. Victory Capital Management Inc. bought a new position in shares of Sandy Spring Bancorp during the first quarter worth $177,000. 361 Capital LLC bought a new position in shares of Sandy Spring Bancorp during the first quarter worth $205,000. Karp Capital Management Corp bought a new position in shares of Sandy Spring Bancorp during the first quarter worth $267,000. Finally, Invictus RG bought a new position in shares of Sandy Spring Bancorp during the first quarter worth $289,000. 66.28% of the stock is currently owned by institutional investors and hedge funds.

Sandy Spring Bancorp, Inc. (NASDAQ SASR) opened at 38.12 on Friday. The company has a market capitalization of $914.38 million, a P/E ratio of 16.32 and a beta of 1.02. The firm has a 50-day moving average price of $39.95 and a 200 day moving average price of $41.00. Sandy Spring Bancorp, Inc. has a 12 month low of $27.86 and a 12 month high of $45.64.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th will be given a $0.26 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.73%. Sandy Spring Bancorp’s payout ratio is 44.26%.

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A number of brokerages recently weighed in on SASR. Zacks Investment Research downgraded Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.00 price target on shares of Sandy Spring Bancorp in a research report on Friday, April 21st. Finally, ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report 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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