Quadrant Capital Group LLC Acquires 1,595 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Quadrant Capital Group LLC increased its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 40.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,521 shares of the bank’s stock after buying an additional 1,595 shares during the period. Quadrant Capital Group LLC’s holdings in Sandy Spring Bancorp were worth $150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in shares of Sandy Spring Bancorp by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 854,774 shares of the bank’s stock valued at $23,284,000 after buying an additional 4,855 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sandy Spring Bancorp by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock valued at $61,033,000 after acquiring an additional 52,454 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Sandy Spring Bancorp by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock valued at $15,816,000 after purchasing an additional 40,374 shares during the period. M&T Bank Corp bought a new position in Sandy Spring Bancorp during the 4th quarter worth approximately $257,000. Finally, Truist Financial Corp lifted its position in shares of Sandy Spring Bancorp by 2.7% in the 4th quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock worth $1,050,000 after purchasing an additional 1,026 shares during the period. 66.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SASR. Janney Montgomery Scott started coverage on shares of Sandy Spring Bancorp in a research report on Friday, March 1st. They set a “neutral” rating and a $25.00 price objective for the company. Stephens restated an “equal weight” rating and issued a $25.00 target price on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, Sandy Spring Bancorp currently has a consensus rating of “Hold” and an average target price of $23.50.

Sandy Spring Bancorp Price Performance

SASR stock opened at $24.07 on Thursday. The company’s fifty day simple moving average is $21.80 and its 200 day simple moving average is $23.19. Sandy Spring Bancorp, Inc. has a 12-month low of $19.27 and a 12-month high of $27.90. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 11.80 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $184.38 million during the quarter, compared to analyst estimates of $97.45 million. Sandy Spring Bancorp had a return on equity of 6.65% and a net margin of 12.74%. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts expect that Sandy Spring Bancorp, Inc. will post 1.95 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Tuesday, May 7th. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

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 the United States. It offers financial products and services, including various loan and deposit products.