Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Purchased by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. raised its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 2,164.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 468,891 shares of the bank’s stock after purchasing an additional 448,184 shares during the quarter. Basswood Capital Management L.L.C. owned 1.04% of Sandy Spring Bancorp worth $14,709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Sandy Spring Bancorp by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank’s stock valued at $60,182,000 after buying an additional 108,703 shares during the period. Systematic Financial Management LP raised its position in Sandy Spring Bancorp by 12.0% during the second quarter. Systematic Financial Management LP now owns 904,434 shares of the bank’s stock valued at $22,032,000 after acquiring an additional 97,262 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Sandy Spring Bancorp by 10.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock valued at $25,345,000 after acquiring an additional 75,596 shares during the period. Victory Capital Management Inc. boosted its position in Sandy Spring Bancorp by 15.1% in the 3rd quarter. Victory Capital Management Inc. now owns 799,835 shares of the bank’s stock worth $25,091,000 after purchasing an additional 104,968 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Sandy Spring Bancorp by 18.5% during the 2nd quarter. American Century Companies Inc. now owns 775,252 shares of the bank’s stock worth $18,885,000 after purchasing an additional 120,996 shares during the period. 66.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a research note on Monday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Up 0.5 %

Shares of SASR opened at $37.68 on Monday. The firm has a market cap of $1.70 billion, a P/E ratio of 19.83 and a beta of 0.94. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The stock’s 50 day moving average is $34.18 and its two-hundred day moving average is $29.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The company had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same period in the prior year, the business posted $0.62 EPS. Analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.61%. Sandy Spring Bancorp’s dividend payout ratio is currently 71.58%.

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.