Gamco Investors INC. ET AL boosted its position in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,440 shares of the bank’s stock after acquiring an additional 5,568 shares during the quarter. Gamco Investors INC. ET AL owned 0.16% of Sandy Spring Bancorp worth $1,970,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bessemer Group Inc. bought a new position in shares of Sandy Spring Bancorp in the second quarter valued at about $614,000. WBI Investments Inc. bought a new position in shares of Sandy Spring Bancorp in the second quarter valued at about $1,416,000. Strs Ohio bought a new position in shares of Sandy Spring Bancorp in the second quarter valued at about $861,000. Steward Partners Investment Advisory LLC bought a new position in shares of Sandy Spring Bancorp in the second quarter valued at about $44,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Sandy Spring Bancorp by 5.7% in the second quarter. Janney Montgomery Scott LLC now owns 10,574 shares of the bank’s stock valued at $369,000 after purchasing an additional 570 shares during the period. 70.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SASR stock traded up $0.02 on Friday, hitting $35.66. The company’s stock had a trading volume of 74,300 shares, compared to its average volume of 138,697. The stock’s 50 day moving average is $34.17 and its 200-day moving average is $34.30. The company has a market capitalization of $1.27 billion, a PE ratio of 12.47, a PEG ratio of 1.15 and a beta of 0.82. Sandy Spring Bancorp Inc. has a fifty-two week low of $29.83 and a fifty-two week high of $36.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.02.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $85.36 million during the quarter, compared to analyst estimates of $84.70 million. Sandy Spring Bancorp had a net margin of 27.41% and a return on equity of 10.22%. During the same quarter last year, the business earned $0.79 EPS. On average, research analysts forecast that Sandy Spring Bancorp Inc. will post 3.27 earnings per share for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 12th. Sandy Spring Bancorp’s payout ratio is 41.96%.
Several brokerages have recently weighed in on SASR. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Sandler O’Neill upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sandy Spring Bancorp currently has a consensus rating of “Buy” and a consensus target price of $37.06.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.
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