Victory Capital Management Inc. Sells 140,088 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Victory Capital Management Inc. lessened its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 20.0% during the 4th quarter, HoldingsChannel reports. The firm owned 560,846 shares of the bank’s stock after selling 140,088 shares during the period. Victory Capital Management Inc.’s holdings in Sandy Spring Bancorp were worth $19,731,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SASR. Vanguard Group Inc. lifted its holdings in shares of Sandy Spring Bancorp by 10.5% during the 1st quarter. Vanguard Group Inc. now owns 2,741,687 shares of the bank’s stock valued at $123,156,000 after purchasing an additional 261,172 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Sandy Spring Bancorp by 2,091.5% during the 4th quarter. Russell Investments Group Ltd. now owns 181,737 shares of the bank’s stock valued at $6,403,000 after purchasing an additional 173,444 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Sandy Spring Bancorp by 3.2% during the 3rd quarter. BlackRock Inc. now owns 4,277,133 shares of the bank’s stock valued at $150,812,000 after purchasing an additional 133,565 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sandy Spring Bancorp by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,508,246 shares of the bank’s stock valued at $88,367,000 after purchasing an additional 102,383 shares in the last quarter. Finally, Penn Capital Management Company LLC lifted its stake in Sandy Spring Bancorp by 1,497.5% in the 3rd quarter. Penn Capital Management Company LLC now owns 84,907 shares of the bank’s stock valued at $2,994,000 after acquiring an additional 79,592 shares in the last quarter. Institutional investors own 64.95% of the company’s stock.

Sandy Spring Bancorp Stock Down 5.5 %

NASDAQ:SASR opened at $20.80 on Monday. The firm has a market capitalization of $932.46 million, a price-to-earnings ratio of 5.39 and a beta of 0.91. Sandy Spring Bancorp, Inc. has a twelve month low of $19.47 and a twelve month high of $42.70. The stock’s 50 day moving average price is $23.96 and its two-hundred day moving average price is $30.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 17th. Shareholders of record on Wednesday, May 10th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Tuesday, May 9th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 35.23%.

Wall Street Analyst Weigh In

Several research firms have commented on SASR. StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Piper Sandler cut their target price on Sandy Spring Bancorp from $31.00 to $27.00 in a research note on Monday, April 24th. DA Davidson cut their target price on Sandy Spring Bancorp from $32.00 to $28.00 in a research note on Monday, April 24th. Stephens cut their target price on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Finally, TheStreet cut Sandy Spring Bancorp from a “b-” rating to a “c+” rating in a research note on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and an average target price of $28.00.

Sandy Spring Bancorp Company Profile

(Get Rating)

Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.