Nisa Investment Advisors LLC Lowers Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Nisa Investment Advisors LLC decreased its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 69.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,548 shares of the bank's stock after selling 8,200 shares during the period. Nisa Investment Advisors LLC's holdings in Sandy Spring Bancorp were worth $120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Sandy Spring Bancorp by 93.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank's stock valued at $41,235,000 after purchasing an additional 615,591 shares in the last quarter. Geode Capital Management LLC grew its position in Sandy Spring Bancorp by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank's stock worth $33,654,000 after buying an additional 35,271 shares in the last quarter. Systematic Financial Management LP increased its stake in Sandy Spring Bancorp by 13.4% in the 3rd quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank's stock worth $32,161,000 after acquiring an additional 120,793 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Sandy Spring Bancorp by 17.4% in the 3rd quarter. Wellington Management Group LLP now owns 819,475 shares of the bank's stock valued at $25,707,000 after acquiring an additional 121,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Sandy Spring Bancorp by 10.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank's stock valued at $25,345,000 after acquiring an additional 75,596 shares during the last quarter. Institutional investors own 66.90% of the company's stock.

Sandy Spring Bancorp Price Performance

Shares of SASR traded down $0.62 during midday trading on Monday, reaching $33.21. The stock had a trading volume of 89,183 shares, compared to its average volume of 243,375. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 73.88 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a 12-month low of $19.52 and a 12-month high of $39.55. The company's 50-day moving average is $34.73 and its 200 day moving average is $32.96.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. On average, equities analysts predict that Sandy Spring Bancorp, Inc. will post 2.51 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $1.36 annualized dividend and a dividend yield of 4.10%. Sandy Spring Bancorp's payout ratio is presently 302.23%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 27th. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $28.25.

About Sandy Spring Bancorp

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.