Massachusetts Financial Services Co. MA Sells 13,197 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Massachusetts Financial Services Co. MA lessened its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 732,344 shares of the bank’s stock after selling 13,197 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Sandy Spring Bancorp were worth $17,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SASR. Scarborough Advisors LLC acquired a new position in Sandy Spring Bancorp in the 4th quarter valued at $77,000. EntryPoint Capital LLC acquired a new stake in shares of Sandy Spring Bancorp in the first quarter valued at about $98,000. Hantz Financial Services Inc. bought a new position in shares of Sandy Spring Bancorp in the second quarter worth about $105,000. Meeder Asset Management Inc. acquired a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth about $117,000. Finally, SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the 1st quarter valued at approximately $122,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. DA Davidson lifted their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of 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 investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Sandy Spring Bancorp Trading Down 2.9 %

Shares of Sandy Spring Bancorp stock opened at $32.54 on Friday. The company’s fifty day moving average price is $30.11 and its two-hundred day moving average price is $25.06. The firm has a market capitalization of $1.47 billion, a PE ratio of 15.95 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a 52-week low of $19.27 and a 52-week high of $34.19. 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 (NASDAQ:SASR) last posted its quarterly earnings results 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 firm had revenue of $184.70 million during the quarter, compared to analyst estimates of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, analysts expect that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

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 4.18%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

Sandy Spring Bancorp 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.