Victory Capital Management Inc. increased its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 584,990 shares of the bank’s stock after purchasing an additional 67,013 shares during the quarter. Victory Capital Management Inc. owned approximately 1.29% of Sandy Spring Bancorp worth $25,945,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC acquired a new stake in Sandy Spring Bancorp in the fourth quarter worth about $212,000. Gamco Investors INC. ET AL grew its position in shares of Sandy Spring Bancorp by 4.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 128,822 shares of the bank’s stock worth $6,194,000 after buying an additional 4,936 shares during the period. Keebeck Alpha LP acquired a new position in shares of Sandy Spring Bancorp during the 4th quarter worth about $222,000. Barclays PLC grew its position in shares of Sandy Spring Bancorp by 71.1% during the 4th quarter. Barclays PLC now owns 117,756 shares of the bank’s stock worth $5,663,000 after buying an additional 48,938 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Sandy Spring Bancorp by 228.6% during the 4th quarter. American Century Companies Inc. now owns 78,728 shares of the bank’s stock worth $3,785,000 after buying an additional 54,768 shares during the period. 66.43% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SASR has been the subject of several analyst reports. DA Davidson restated a “buy” rating on shares of Sandy Spring Bancorp in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods lowered Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $53.00 to $50.00 in a research report on Friday, April 22nd.
Sandy Spring Bancorp Price Performance
Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.02). Sandy Spring Bancorp had a net margin of 36.97% and a return on equity of 12.38%. During the same period last year, the business earned $1.16 earnings per share. Sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 3.96 EPS for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Wednesday, August 10th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, August 9th. Sandy Spring Bancorp’s payout ratio is 31.19%.
Sandy Spring Bancorp Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.
- Get a free copy of the StockNews.com research report on Sandy Spring Bancorp (SASR)
- There Are Different Types of Stock To Invest In
- Is it Time to Tap Molson Coors or Will Beer Sales Turn Flat?
- Is Starbucks Shooting For The Moon?
- PayPal Continues To Struggle As Competition Increases
- Two High-Yield Deep-Values You Shouldn’t Ignore
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.