Schwab Charles Investment Management Inc. lifted its holdings in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 148,159 shares of the bank’s stock after buying an additional 5,457 shares during the period. Schwab Charles Investment Management Inc. owned about 0.62% of Sandy Spring Bancorp worth $5,782,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SASR. Stratos Wealth Partners LTD. grew its holdings in Sandy Spring Bancorp by 19.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,967 shares of the bank’s stock valued at $330,000 after purchasing an additional 1,301 shares during the last quarter. KBC Group NV bought a new position in Sandy Spring Bancorp during the 3rd quarter valued at about $139,000. Magnetar Financial LLC bought a new position in Sandy Spring Bancorp during the 3rd quarter valued at about $203,000. Columbia Partners L L C Investment Management bought a new position in Sandy Spring Bancorp during the 3rd quarter valued at about $228,000. Finally, SG Americas Securities LLC bought a new position in Sandy Spring Bancorp during the 3rd quarter valued at about $261,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.
SASR has been the topic of a number of research analyst reports. Sandler O’Neill set a $44.00 target price on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research note on Friday, January 12th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research report on Thursday, January 4th. Finally, Gabelli initiated coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.80.
Shares of Sandy Spring Bancorp Inc. (NASDAQ SASR) opened at $39.75 on Wednesday. Sandy Spring Bancorp Inc. has a 52-week low of $36.41 and a 52-week high of $45.64. The firm has a market cap of $1,417.77, a P/E ratio of 18.07, a PEG ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.07 and a quick ratio of 1.07.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share 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 during the quarter, compared to analysts’ expectations of $56.21 million. During the same quarter in the prior year, the company earned $0.55 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. research analysts expect that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. Sandy Spring Bancorp’s payout ratio is 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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