TD Asset Management Inc. lessened its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 20.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,820 shares of the bank's stock after selling 14,482 shares during the period. TD Asset Management Inc. owned 0.12% of Sandy Spring Bancorp worth $2,507,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SASR. Allworth Financial LP increased its position in Sandy Spring Bancorp by 5,790.9% in the 1st quarter. Allworth Financial LP now owns 648 shares of the bank's stock valued at $29,000 after acquiring an additional 637 shares during the period. Meeder Asset Management Inc. acquired a new position in Sandy Spring Bancorp in the 1st quarter valued at about $71,000. Advisor Group Holdings Inc. increased its position in Sandy Spring Bancorp by 248.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,165 shares of the bank's stock valued at $153,000 after acquiring an additional 2,256 shares during the period. Prosperity Consulting Group LLC acquired a new position in Sandy Spring Bancorp during the 4th quarter worth approximately $212,000. Finally, Keebeck Alpha LP acquired a new position in Sandy Spring Bancorp during the 4th quarter worth approximately $222,000. Institutional investors and hedge funds own 66.43% of the company's stock.
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Separately, DA Davidson reiterated a "buy" rating on shares of Sandy Spring Bancorp in a research report on Wednesday, July 27th.
Sandy Spring Bancorp Stock Performance
NASDAQ SASR opened at $39.47 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The business's 50 day moving average is $40.01 and its two-hundred day moving average is $41.93. Sandy Spring Bancorp, Inc. has a 12-month low of $36.84 and a 12-month high of $52.04. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.05 and a beta of 1.01.Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last released its earnings results on Thursday, July 21st. The bank reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm posted $1.16 EPS. Research analysts expect that Sandy Spring Bancorp, Inc. will post 3.96 EPS for the current year.
Sandy Spring Bancorp Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Tuesday, August 9th. Sandy Spring Bancorp's dividend payout ratio is currently 31.19%.
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.
Further Reading
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