American Century Companies Inc. grew its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 53.2% in the first quarter, Holdings Channel.com reports. The firm owned 120,626 shares of the bank's stock after acquiring an additional 41,898 shares during the quarter. American Century Companies Inc.'s holdings in Sandy Spring Bancorp were worth $5,418,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Krane Funds Advisors LLC grew its position in shares of Sandy Spring Bancorp by 19.5% in the first quarter. Krane Funds Advisors LLC now owns 17,695 shares of the bank's stock valued at $795,000 after purchasing an additional 2,882 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Sandy Spring Bancorp by 2.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 771,625 shares of the bank's stock valued at $34,661,000 after purchasing an additional 15,222 shares in the last quarter. Raymond James & Associates grew its position in shares of Sandy Spring Bancorp by 3.5% in the first quarter. Raymond James & Associates now owns 9,584 shares of the bank's stock valued at $431,000 after purchasing an additional 321 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Sandy Spring Bancorp in the first quarter worth approximately $615,000. Finally, ProShare Advisors LLC grew its position in Sandy Spring Bancorp by 12.5% in the first quarter. ProShare Advisors LLC now owns 232,197 shares of the bank's stock worth $10,430,000 after acquiring an additional 25,718 shares during the period. 65.20% of the stock is currently owned by hedge funds and other institutional investors.
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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 Trading Down 0.2 %
Shares of Sandy Spring Bancorp stock opened at $38.39 on Monday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 8.81 and a beta of 1.01. Sandy Spring Bancorp, Inc. has a fifty-two week low of $36.84 and a fifty-two week high of $52.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average of $39.92 and a 200 day moving average of $41.76.Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.93 earnings per share 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 in the previous year, the business earned $1.16 earnings per share. As a group, research analysts predict that Sandy Spring Bancorp, Inc. will post 3.96 earnings per share for the current year.
Sandy Spring Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $1.36 annualized dividend and a dividend yield of 3.54%. Sandy Spring Bancorp's dividend payout ratio is currently 31.19%.
About Sandy Spring Bancorp
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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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