Scarborough Advisors LLC Purchases New Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Scarborough Advisors LLC acquired a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,809 shares of the bank’s stock, valued at approximately $77,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SASR. Quadrant Capital Group LLC grew its position in shares of Sandy Spring Bancorp by 40.6% during the 4th quarter. Quadrant Capital Group LLC now owns 5,521 shares of the bank’s stock worth $150,000 after buying an additional 1,595 shares during the period. Evermay Wealth Management LLC grew its holdings in Sandy Spring Bancorp by 263.8% during the 4th quarter. Evermay Wealth Management LLC now owns 6,239 shares of the bank’s stock worth $170,000 after acquiring an additional 4,524 shares during the period. Associated Banc Corp bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at $216,000. SteelPeak Wealth LLC bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at $218,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at $230,000. 66.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SASR shares. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective for the company. StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Finally, Stephens reissued an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus price target of $23.50.

Sandy Spring Bancorp Stock Up 1.3 %

Shares of Sandy Spring Bancorp stock opened at $22.58 on Tuesday. Sandy Spring Bancorp, Inc. has a 1 year low of $19.27 and a 1 year high of $27.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $1.02 billion, a P/E ratio of 11.07 and a beta of 0.97. The business has a 50-day moving average of $22.11 and a two-hundred day moving average of $23.27.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. The firm had revenue of $184.38 million for the quarter, compared to the consensus estimate of $97.45 million. During the same period last year, the company posted $1.16 EPS. As a group, equities analysts predict that Sandy Spring Bancorp, Inc. will post 1.95 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were given a $0.34 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.36 annualized dividend and a yield of 6.02%. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.