10,020 Shares in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,020 shares of the bank’s stock, valued at approximately $314,000.

Several other hedge funds have also modified their holdings of the stock. Wedge Capital Management L L P NC raised its stake in Sandy Spring Bancorp by 69.1% in the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock valued at $3,628,000 after buying an additional 60,850 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Sandy Spring Bancorp by 432.5% during the second quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank’s stock worth $4,690,000 after buying an additional 156,377 shares during the last quarter. AQR Capital Management LLC lifted its position in Sandy Spring Bancorp by 5.7% in the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock valued at $11,528,000 after purchasing an additional 25,546 shares during the period. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Sandy Spring Bancorp in the second quarter valued at about $4,778,000. Finally, Victory Capital Management Inc. lifted its position in 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 valued at $16,927,000 after purchasing an additional 641,402 shares during the period. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Sandy Spring Bancorp Trading Up 0.4 %

Shares of Sandy Spring Bancorp stock opened at $37.91 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55. The company has a market capitalization of $1.71 billion, a P/E ratio of 19.92 and a beta of 0.96. The business has a 50 day moving average price of $34.42 and a 200 day moving average price of $29.80.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. The company had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. During the same period in the prior year, the firm earned $0.62 earnings per share. Sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.34 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.59%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 71.58%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a research report on Monday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $28.25.

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.