Sandy Spring Bancorp, Inc. (SASR) Shares Sold by First Trust Advisors LP
First Trust Advisors LP decreased its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,497 shares of the bank’s stock after selling 20,735 shares during the quarter. First Trust Advisors LP owned 0.23% of Sandy Spring Bancorp worth $2,258,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Sandy Spring Bancorp by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,787,390 shares of the bank’s stock valued at $72,676,000 after purchasing an additional 28,837 shares during the period. Vanguard Group Inc. raised its position in Sandy Spring Bancorp by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after purchasing an additional 10,359 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Sandy Spring Bancorp by 13.9% in the second quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after acquiring an additional 98,650 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Sandy Spring Bancorp by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 535,327 shares of the bank’s stock worth $21,766,000 after acquiring an additional 1,429 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Sandy Spring Bancorp by 16.9% in the second quarter. State Street Corp now owns 523,549 shares of the bank’s stock worth $21,287,000 after acquiring an additional 75,500 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors.
Several equities analysts have commented on the stock. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Boenning Scattergood restated 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 given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $42.00.
Sandy Spring Bancorp, Inc. (NASDAQ SASR) opened at $38.57 on Friday. The company has a market cap of $931.19, a price-to-earnings ratio of 16.10 and a beta of 1.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp, Inc. has a 12 month low of $36.18 and a 12 month high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). The business had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. During the same quarter last year, the firm earned $0.56 EPS. sell-side analysts forecast that Sandy Spring Bancorp, Inc. will post 2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.70%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 43.15%.
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Sandy Spring Bancorp Company 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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