Forest Hill Capital LLC boosted its holdings in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,262 shares of the bank’s stock after acquiring an additional 66,750 shares during the period. Sandy Spring Bancorp accounts for approximately 3.6% of Forest Hill Capital LLC’s investment portfolio, making the stock its 8th biggest position. Forest Hill Capital LLC owned about 1.34% of Sandy Spring Bancorp worth $12,575,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Partners Fund LP purchased a new stake in shares of Sandy Spring Bancorp in the 4th quarter valued at approximately $132,000. KBC Group NV purchased a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at approximately $139,000. Magnetar Financial LLC purchased a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at approximately $203,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Sandy Spring Bancorp in the 4th quarter valued at approximately $214,000. Finally, Columbia Partners L L C Investment Management purchased a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at approximately $228,000. 73.40% of the stock is owned by institutional investors.
SASR has been the subject of several analyst reports. Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the company a “hold” rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, December 23rd. Gabelli initiated coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They issued a “buy” rating and a $50.00 price target for the company. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Sandy Spring Bancorp has an average rating of “Hold” and a consensus target price of $44.80.
Sandy Spring Bancorp Inc. (NASDAQ:SASR) opened at $39.75 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.36. Sandy Spring Bancorp Inc. has a fifty-two week low of $36.41 and a fifty-two week high of $45.64. The company has a market cap of $1,417.06, a P/E ratio of 18.07, a PEG ratio of 1.03 and a beta of 0.87.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The firm had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. research analysts anticipate that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 2.62%. Sandy Spring Bancorp’s dividend payout ratio is currently 47.27%.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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