Wedge Capital Management L L P NC lowered its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,980 shares of the bank's stock after selling 1,352 shares during the quarter. Wedge Capital Management L L P NC owned 0.22% of Sandy Spring Bancorp worth $3,906,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SASR. Vanguard Group Inc. lifted its holdings in Sandy Spring Bancorp by 10.5% during the first quarter. Vanguard Group Inc. now owns 2,741,687 shares of the bank's stock valued at $123,156,000 after purchasing an additional 261,172 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Sandy Spring Bancorp by 20.7% in the fourth 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Sandy Spring Bancorp by 274.2% in the first quarter. Principal Financial Group Inc. now owns 155,487 shares of the bank's stock worth $6,984,000 after buying an additional 113,932 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Sandy Spring Bancorp by 12.9% in the first 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 in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Sandy Spring Bancorp by 71.1% in the fourth quarter. Barclays PLC now owns 117,756 shares of the bank's stock worth $5,663,000 after buying an additional 48,938 shares in the last quarter. Hedge funds and other institutional investors own 65.20% of the company's stock.
Get Sandy Spring Bancorp alerts:Wall Street Analysts Forecast Growth
Separately, DA Davidson reissued a "buy" rating on shares of Sandy Spring Bancorp in a report on Wednesday, July 27th.
Sandy Spring Bancorp Price Performance
SASR stock opened at $39.88 on Wednesday. Sandy Spring Bancorp, Inc. has a one year low of $36.84 and a one year high of $52.04. The company's fifty day moving average price is $39.81 and its 200-day moving average price is $41.01. 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 company has a market capitalization of $1.78 billion, a PE ratio of 9.15 and a beta of 1.01.Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The bank reported $0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company posted $1.16 EPS. On average, equities analysts anticipate that Sandy Spring Bancorp, Inc. will post 3.96 EPS for the current fiscal year.
Sandy Spring Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 10th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Tuesday, August 9th. Sandy Spring Bancorp's 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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