LSV Asset Management Lowers Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

LSV Asset Management decreased its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,615 shares of the bank’s stock after selling 8,800 shares during the quarter. LSV Asset Management owned about 0.30% of Sandy Spring Bancorp worth $3,304,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Sandy Spring Bancorp by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock valued at $61,033,000 after buying an additional 52,454 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Sandy Spring Bancorp by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 854,774 shares of the bank’s stock worth $23,284,000 after purchasing an additional 4,855 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Sandy Spring Bancorp by 1,199.7% in the second quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock worth $16,927,000 after purchasing an additional 641,402 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sandy Spring Bancorp by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock worth $15,816,000 after purchasing an additional 40,374 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Sandy Spring Bancorp by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 384,726 shares of the bank’s stock worth $9,372,000 after purchasing an additional 5,324 shares during the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Up 2.5 %

SASR stock opened at $31.72 on Thursday. Sandy Spring Bancorp, Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $32.38. The business’s 50-day moving average is $29.16 and its two-hundred day moving average is $24.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 15.55 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. The company had revenue of $184.70 million for the quarter, compared to the consensus estimate of $99.60 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. As a group, analysts forecast that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. DA Davidson boosted their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Sandy Spring Bancorp Company Profile

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.