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GSA Capital Partners LLP Buys New Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Defense World ·  Aug 24, 2022 06:41

GSA Capital Partners LLP bought a new stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,681 shares of the bank's stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allianz Asset Management GmbH raised its position in Sandy Spring Bancorp by 0.6% in the 4th quarter. Allianz Asset Management GmbH now owns 48,496 shares of the bank's stock valued at $2,332,000 after buying an additional 305 shares during the last quarter. Teacher Retirement System of Texas raised its position in Sandy Spring Bancorp by 3.9% in the 1st quarter. Teacher Retirement System of Texas now owns 9,427 shares of the bank's stock valued at $423,000 after buying an additional 353 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Sandy Spring Bancorp by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 24,749 shares of the bank's stock worth $1,112,000 after purchasing an additional 608 shares during the last quarter. Allworth Financial LP increased its position in shares of Sandy Spring Bancorp by 5,790.9% during the 1st quarter. Allworth Financial LP now owns 648 shares of the bank's stock worth $29,000 after purchasing an additional 637 shares during the last quarter. Finally, CWM LLC increased its position in shares of Sandy Spring Bancorp by 13.8% during the 1st quarter. CWM LLC now owns 5,334 shares of the bank's stock worth $240,000 after purchasing an additional 645 shares during the last quarter. Institutional investors and hedge funds own 66.43% of the company's stock.

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Sandy Spring Bancorp Stock Down 0.8 %

NASDAQ:SASR opened at $39.96 on Wednesday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.17 and a beta of 1.01. Sandy Spring Bancorp, Inc. has a twelve month low of $36.84 and a twelve month high of $52.04. The stock's 50 day moving average price is $39.95 and its two-hundred day moving average price is $42.14. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.37.

Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last posted its earnings results on Thursday, July 21st. The bank reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.02). Sandy Spring Bancorp had a return on equity of 12.47% and a net margin of 36.97%. During the same period last year, the business earned $1.16 EPS. Equities research analysts expect that Sandy Spring Bancorp, Inc. will post 3.96 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 10th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Tuesday, August 9th. Sandy Spring Bancorp's payout ratio is presently 31.19%.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a "buy" rating on shares of Sandy Spring Bancorp in a research report on Wednesday, July 27th.

Sandy Spring Bancorp Company 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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