Kingsview Wealth Management LLC Has $408,000 Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Kingsview Wealth Management LLC decreased its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,000 shares of the bank’s stock after selling 5,270 shares during the period. Kingsview Wealth Management LLC’s holdings in Sandy Spring Bancorp were worth $408,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SASR. Victory Capital Management Inc. boosted its position in shares of Sandy Spring Bancorp by 1,199.7% during the second quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock valued at $16,927,000 after buying an additional 641,402 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. bought a new stake in Sandy Spring Bancorp during the second quarter worth $4,778,000. Stieven Capital Advisors L.P. bought a new stake in Sandy Spring Bancorp during the third quarter worth $4,906,000. Great Lakes Advisors LLC lifted its holdings in 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 acquiring an additional 156,377 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Sandy Spring Bancorp by 18.5% during the second quarter. American Century Companies Inc. now owns 775,252 shares of the bank’s stock worth $18,885,000 after acquiring an additional 120,996 shares during the period. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a report on Sunday, November 24th. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.25.

Sandy Spring Bancorp Stock Performance

Shares of SASR opened at $37.51 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of 19.74 and a beta of 0.94. The stock’s fifty day moving average price is $34.00 and its two-hundred day moving average price is $29.35. 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.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results 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). The firm had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 annualized dividend and a dividend yield of 3.63%. Sandy Spring Bancorp’s payout ratio is presently 71.58%.

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.