Stieven Capital Advisors L.P. Purchases New Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Stieven Capital Advisors L.P. acquired a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 156,391 shares of the bank's stock, valued at approximately $4,906,000. Stieven Capital Advisors L.P. owned approximately 0.35% of Sandy Spring Bancorp at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SASR. Carmichael Hill & Associates Inc. increased its position in Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank's stock worth $287,000 after buying an additional 412 shares in the last quarter. First National Trust Co increased its holdings in Sandy Spring Bancorp by 5.2% in the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank's stock worth $315,000 after acquiring an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Sandy Spring Bancorp by 2.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank's stock worth $818,000 after acquiring an additional 609 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Sandy Spring Bancorp during the third quarter valued at approximately $29,000. Finally, Truist Financial Corp lifted its holdings in Sandy Spring Bancorp by 2.6% during the second quarter. Truist Financial Corp now owns 43,713 shares of the bank's stock valued at $1,065,000 after purchasing an additional 1,104 shares in the last quarter. 66.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SASR shares. StockNews.com began coverage on shares of Sandy Spring Bancorp in a research report on Saturday. They set a "sell" rating on the stock. Keefe, Bruyette & Woods raised their price target 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. Finally, 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 research report on Thursday, July 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.25.

Sandy Spring Bancorp Price Performance

SASR traded down $0.38 during trading on Friday, hitting $37.63. 229,387 shares of the company traded hands, compared to its average volume of 853,539. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.70 billion, a PE ratio of 19.81 and a beta of 0.94. The stock's 50-day simple moving average is $33.09 and its two-hundred day simple moving average is $28.54. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.06.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.40 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 the consensus estimate of $101.60 million. During the same period last year, the company earned $0.62 EPS. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.61%. Sandy Spring Bancorp's dividend payout ratio (DPR) is 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.