Lafayette Investments Inc. decreased its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 84.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,744 shares of the bank's stock after selling 36,759 shares during the quarter. Lafayette Investments Inc.'s holdings in Sandy Spring Bancorp were worth $212,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Sandy Spring Bancorp by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank's stock worth $60,182,000 after acquiring an additional 108,703 shares in the last quarter. Systematic Financial Management LP lifted its stake in Sandy Spring Bancorp by 12.0% in the 2nd quarter. Systematic Financial Management LP now owns 904,434 shares of the bank's stock worth $22,032,000 after acquiring an additional 97,262 shares in the last quarter. American Century Companies Inc. lifted its stake in Sandy Spring Bancorp by 18.5% in the 2nd 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 in the last quarter. Victory Capital Management Inc. lifted its stake in Sandy Spring Bancorp by 1,199.7% in the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank's stock worth $16,927,000 after acquiring an additional 641,402 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Sandy Spring Bancorp by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 473,241 shares of the bank's stock worth $11,528,000 after acquiring an additional 25,546 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company's stock.
Sandy Spring Bancorp Stock Up 0.8 %
Shares of SASR traded up $0.26 during midday trading on Thursday, reaching $32.62. 961,449 shares of the stock were exchanged, compared to its average volume of 345,325. The firm has a 50 day simple moving average of $31.45 and a 200-day simple moving average of $26.78. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. Sandy Spring Bancorp, Inc. has a 12-month low of $19.27 and a 12-month high of $34.19. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 15.99 and a beta of 0.95.
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). Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.74%. The company had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same period in the previous year, the business posted $0.62 earnings per share. Research analysts forecast that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current year.
Sandy Spring Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp's payout ratio is 66.67%.
Analyst Ratings Changes
Several brokerages recently issued reports on SASR. StockNews.com downgraded Sandy Spring Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, August 27th. Keefe, Bruyette & Woods raised their price target on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a "market perform" rating in a research note on Thursday, July 25th. Finally, DA Davidson raised their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.00.
View Our Latest Research Report on SASR
About Sandy Spring Bancorp
(
Free Report)
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.
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