Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1,199.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 694,867 shares of the bank’s stock after buying an additional 641,402 shares during the period. Victory Capital Management Inc.’s holdings in Sandy Spring Bancorp were worth $16,927,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Carmichael Hill & Associates Inc. lifted its stake in shares of Sandy Spring Bancorp by 3.6% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after purchasing an additional 412 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Sandy Spring Bancorp by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock valued at $620,000 after buying an additional 723 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Sandy Spring Bancorp by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock valued at $321,000 after buying an additional 1,176 shares during the period. Inspire Investing LLC raised its holdings in shares of Sandy Spring Bancorp by 8.2% in the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock valued at $402,000 after buying an additional 1,316 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Sandy Spring Bancorp by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 50,876 shares of the bank’s stock valued at $1,386,000 after buying an additional 1,578 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.

Analyst Upgrades and Downgrades

SASR has been the topic of several research analyst reports. DA Davidson boosted their price objective on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $27.00.

Sandy Spring Bancorp Price Performance

Shares of NASDAQ SASR opened at $31.38 on Friday. The stock’s 50-day moving average is $29.31 and its two-hundred day moving average is $24.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. Sandy Spring Bancorp, Inc. has a 1-year low of $19.27 and a 1-year high of $32.38. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 15.38 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $184.70 million during the quarter, compared to analysts’ expectations of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. During the same period in the prior year, the firm posted $0.60 EPS. Analysts forecast that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.33%. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

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.