Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC decreased its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 23.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,440 shares of the bank's stock after selling 135,310 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.97% of Sandy Spring Bancorp worth $13,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Sandy Spring Bancorp in the third quarter valued at approximately $29,000. Hantz Financial Services Inc. bought a new stake in Sandy Spring Bancorp in the 2nd quarter worth about $105,000. Meeder Asset Management Inc. purchased a new position in Sandy Spring Bancorp in the second quarter worth about $117,000. SG Americas Securities LLC purchased a new position in Sandy Spring Bancorp in the third quarter worth about $170,000. Finally, CWM LLC lifted its position in shares of Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank's stock valued at $135,000 after buying an additional 2,073 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a research note on Monday. They issued a "sell" rating on the stock. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, Sandy Spring Bancorp currently has a consensus rating of "Hold" and a consensus price target of $28.25.

Sandy Spring Bancorp Trading Up 0.4 %

SASR stock traded up $0.15 during midday trading on Wednesday, hitting $37.91. 176,060 shares of the company's stock were exchanged, compared to its average volume of 345,051. The business has a 50-day simple moving average of $34.42 and a two-hundred day simple moving average of $29.80. 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 stock has a market capitalization of $1.71 billion, a PE ratio of 19.92 and a beta of 0.96. 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 - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $189.81 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.62 earnings per share. On average, sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, November 14th. Sandy Spring Bancorp's dividend payout ratio (DPR) 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.