California Public Employees Retirement System boosted its position in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,544 shares of the bank’s stock after purchasing an additional 3,167 shares during the quarter. California Public Employees Retirement System owned about 0.33% of Sandy Spring Bancorp worth $3,065,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SASR. Maltese Capital Management LLC bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth about $3,906,000. Systematic Financial Management LP raised its position in shares of Sandy Spring Bancorp by 10.8% during the 3rd quarter. Systematic Financial Management LP now owns 482,717 shares of the bank’s stock worth $20,004,000 after buying an additional 47,023 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of Sandy Spring Bancorp by 6.1% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after buying an additional 37,386 shares in the last quarter. American Century Companies Inc. raised its position in shares of Sandy Spring Bancorp by 99.0% during the 3rd quarter. American Century Companies Inc. now owns 73,059 shares of the bank’s stock worth $3,028,000 after buying an additional 36,353 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Sandy Spring Bancorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock worth $75,534,000 after buying an additional 35,355 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.
A number of analysts have commented on the stock. BidaskClub downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Stephens upgraded shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Thursday, February 22nd. Finally, Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus price target of $44.80.
Sandy Spring Bancorp stock opened at $39.77 on Monday. The stock has a market cap of $1,417.56, a P/E ratio of 18.08, a PEG ratio of 1.03 and a beta of 0.87. 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 52 week low of $36.41 and a 52 week high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The company had revenue of $55.79 million for the quarter, compared to analysts’ expectations of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. research analysts expect that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were paid 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%.
In other news, Director Joseph S. Bracewell sold 10,000 shares of Sandy Spring Bancorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $39.09, for a total value of $390,900.00. Following the transaction, the director now owns 144,473 shares of the company’s stock, valued at approximately $5,647,449.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joe Reeder sold 1,538 shares of Sandy Spring Bancorp stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $38.63, for a total transaction of $59,412.94. Following the completion of the transaction, the director now directly owns 154,473 shares in the company, valued at approximately $5,967,291.99. The disclosure for this sale can be found here. Insiders sold a total of 93,256 shares of company stock worth $3,660,166 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.
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About Sandy Spring Bancorp
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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