Amalgamated Bank Sells 461 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Amalgamated Bank lessened its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,898 shares of the bank’s stock after selling 461 shares during the quarter. Amalgamated Bank’s holdings in Sandy Spring Bancorp were worth $106,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Sandy Spring Bancorp during the 3rd quarter valued at about $94,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sandy Spring Bancorp by 37.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,508 shares of the bank’s stock worth $204,000 after purchasing an additional 2,608 shares in the last quarter. Bryn Mawr Capital Management LLC acquired a new position in Sandy Spring Bancorp in the third quarter valued at $209,000. Lincoln National Corp raised its holdings in shares of Sandy Spring Bancorp by 10.5% in the third quarter. Lincoln National Corp now owns 9,827 shares of the bank’s stock valued at $211,000 after buying an additional 933 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $216,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

Analysts Set New Price Targets

SASR has been the subject of a number of research analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $25.00 target price on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Janney Montgomery Scott initiated coverage on shares of Sandy Spring Bancorp in a research note on Friday, March 1st. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, StockNews.com downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

Sandy Spring Bancorp Trading Down 0.7 %

Sandy Spring Bancorp stock opened at $23.16 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $21.89 and a two-hundred day moving average price of $23.20. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.35 and a beta of 0.94. Sandy Spring Bancorp, Inc. has a 52-week low of $19.27 and a 52-week high of $27.90.

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

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.87%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

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