Teton Advisors Inc. Raises Stock Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Teton Advisors Inc. grew its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 26.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,500 shares of the bank’s stock after buying an additional 7,000 shares during the period. Teton Advisors Inc. owned approximately 0.07% of Sandy Spring Bancorp worth $760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Sandy Spring Bancorp by 3.2% in the 3rd quarter. BlackRock Inc. now owns 4,277,133 shares of the bank’s stock worth $150,812,000 after buying an additional 133,565 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Sandy Spring Bancorp by 0.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,986,559 shares of the bank’s stock worth $116,685,000 after buying an additional 22,123 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sandy Spring Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,800,845 shares of the bank’s stock worth $98,758,000 after acquiring an additional 25,086 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sandy Spring Bancorp by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,635,944 shares of the bank’s stock worth $68,482,000 after acquiring an additional 127,698 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Sandy Spring Bancorp by 26.0% in the 1st quarter. State Street Corp now owns 1,544,678 shares of the bank’s stock worth $40,131,000 after acquiring an additional 318,446 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.

Sandy Spring Bancorp Trading Up 2.7 %

SASR traded up $0.60 on Friday, reaching $23.21. 167,344 shares of the company traded hands, compared to its average volume of 166,003. Sandy Spring Bancorp, Inc. has a one year low of $19.27 and a one year high of $36.18. The firm has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $22.34. The company has a market cap of $1.04 billion, a P/E ratio of 7.98 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.79.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Sandy Spring Bancorp had a net margin of 19.17% and a return on equity of 9.35%. The company had revenue of $102.47 million during the quarter, compared to analyst estimates of $104.52 million. As a group, equities research analysts expect that Sandy Spring Bancorp, Inc. will post 2.88 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend was Tuesday, November 7th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 46.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Sandy Spring Bancorp from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Monday, October 30th. StockNews.com upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, DA Davidson lowered shares of Sandy Spring Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $22.00 in a report on Monday, October 2nd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Sandy Spring Bancorp currently has an average rating of “Hold” and a consensus target price of $25.25.

About Sandy Spring Bancorp

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 in Central Maryland, Northern Virginia, and Washington, DC It operates in two segments, Community Banking and Investment Management.