Teacher Retirement System of Texas purchased a new stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,210 shares of the bank’s stock, valued at approximately $320,000.
A number of other large investors also recently added to or reduced their stakes in SASR. American Century Companies Inc. boosted its holdings in Sandy Spring Bancorp by 99.0% in the third quarter. American Century Companies Inc. now owns 73,059 shares of the bank’s stock valued at $3,028,000 after acquiring an additional 36,353 shares in the last quarter. Prudential Financial Inc. lifted its position in Sandy Spring Bancorp by 32.4% during the third quarter. Prudential Financial Inc. now owns 85,088 shares of the bank’s stock valued at $3,526,000 after buying an additional 20,840 shares during the period. SG Americas Securities LLC purchased a new position in Sandy Spring Bancorp during the third quarter valued at $261,000. Ameriprise Financial Inc. lifted its position in Sandy Spring Bancorp by 2.8% during the third quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock valued at $39,137,000 after buying an additional 25,663 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in Sandy Spring Bancorp during the third quarter valued at $537,000. Institutional investors and hedge funds own 73.40% of the company’s stock.
In other news, Director Joseph S. Bracewell sold 50,000 shares of Sandy Spring Bancorp stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $39.21, for a total value of $1,960,500.00. Following the completion of the transaction, the director now owns 42,173 shares of the company’s stock, valued at approximately $1,653,603.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joe Reeder sold 1,538 shares of Sandy Spring Bancorp stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $38.63, for a total value of $59,412.94. Following the completion of the transaction, the director now directly owns 154,473 shares of the company’s stock, valued at approximately $5,967,291.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,256 shares of company stock valued at $3,660,166. 2.60% of the stock is owned by insiders.
Sandy Spring Bancorp stock opened at $39.57 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $1,415.79, a PE ratio of 17.99, a PEG ratio of 1.03 and a beta of 0.87. 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 posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm had revenue of $55.79 million during the quarter, compared to analyst estimates of $56.21 million. Sandy Spring Bancorp had a return on equity of 10.87% and a net margin of 21.63%. Sandy Spring Bancorp’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. research analysts expect that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 47.27%.
Several brokerages have commented on SASR. BidaskClub lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. Zacks Investment Research lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Stephens raised Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Thursday, February 22nd. Finally, Sandler O’Neill set a $44.00 price objective on Sandy Spring Bancorp and gave the company a “hold” rating in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Sandy Spring Bancorp presently has a consensus rating of “Hold” and an average target price of $44.80.
Sandy Spring Bancorp 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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