Teacher Retirement System of Texas boosted its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,427 shares of the bank's stock after buying an additional 353 shares during the quarter. Teacher Retirement System of Texas' holdings in Sandy Spring Bancorp were worth $423,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Westwood Holdings Group Inc. raised its position in Sandy Spring Bancorp by 20.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,383,088 shares of the bank's stock worth $66,499,000 after buying an additional 236,765 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Sandy Spring Bancorp by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 756,403 shares of the bank's stock worth $36,368,000 after buying an additional 30,872 shares during the last quarter. Victory Capital Management Inc. raised its position in Sandy Spring Bancorp by 12.9% in the 1st quarter. Victory Capital Management Inc. now owns 584,990 shares of the bank's stock worth $25,945,000 after buying an additional 67,013 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sandy Spring Bancorp by 14.4% in the 4th quarter. JPMorgan Chase & Co. now owns 226,112 shares of the bank's stock worth $10,872,000 after buying an additional 28,451 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its position in shares of Sandy Spring Bancorp by 5.7% during the 1st quarter. Congress Asset Management Co. MA now owns 172,535 shares of the bank's stock valued at $7,750,000 after purchasing an additional 9,247 shares during the last quarter. Hedge funds and other institutional investors own 66.43% of the company's stock.
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Wall Street Analysts Forecast Growth
Separately, DA Davidson reaffirmed a "buy" rating on shares of Sandy Spring Bancorp in a research report on Wednesday, July 27th.
Sandy Spring Bancorp Price Performance
NASDAQ SASR opened at $39.96 on Thursday. Sandy Spring Bancorp, Inc. has a 52 week low of $36.84 and a 52 week high of $52.04. The firm has a market capitalization of $1.78 billion, a P/E ratio of 9.17 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $39.97 and a 200-day moving average price of $42.12.
Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The bank reported $0.93 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.02). Sandy Spring Bancorp had a net margin of 36.97% and a return on equity of 12.47%. During the same quarter in the previous year, the business posted $1.16 EPS. Equities research analysts anticipate that Sandy Spring Bancorp, Inc. will post 3.96 earnings per share for the current year.
Sandy Spring Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 10th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.40%. The ex-dividend date was Tuesday, August 9th. Sandy Spring Bancorp's dividend payout ratio is 31.19%.
Sandy Spring Bancorp Profile
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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. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.
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