Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Stock Position Decreased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,840 shares of the bank’s stock after selling 1,210 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Sandy Spring Bancorp were worth $622,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SASR. EntryPoint Capital LLC acquired a new position in shares of Sandy Spring Bancorp during the first quarter valued at $98,000. Hantz Financial Services Inc. acquired a new position in Sandy Spring Bancorp during the 2nd quarter valued at about $105,000. Meeder Asset Management Inc. acquired a new stake in shares of Sandy Spring Bancorp in the 2nd quarter worth approximately $117,000. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp in the 1st quarter worth approximately $122,000. Finally, CWM LLC boosted its holdings in shares of Sandy Spring Bancorp by 59.4% in the second quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after acquiring an additional 2,073 shares in the last quarter. 66.90% of the stock is currently owned by institutional investors.

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ SASR opened at $33.69 on Tuesday. The stock’s fifty day simple moving average is $31.60 and its 200 day simple moving average is $27.03. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.51 and a beta of 0.95. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. Sandy Spring Bancorp, Inc. has a 52-week low of $19.52 and a 52-week high of $34.19.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.74% and a net margin of 11.54%. The company had revenue of $189.81 million during the quarter, compared to analysts’ expectations of $101.60 million. During the same period in the prior year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.04%. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. DA Davidson upped 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. Finally, Keefe, Bruyette & Woods lifted their target price on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus target price 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.