Wedge Capital Management L L P NC Has $2.62 Million Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wedge Capital Management L L P NC cut its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,728 shares of the bank's stock after selling 31,011 shares during the period. Wedge Capital Management L L P NC owned about 0.17% of Sandy Spring Bancorp worth $2,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SASR. Franklin Resources Inc. lifted its stake in Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank's stock valued at $41,235,000 after buying an additional 615,591 shares in the last quarter. Basswood Capital Management L.L.C. lifted its position in Sandy Spring Bancorp by 2,164.4% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank's stock valued at $14,709,000 after acquiring an additional 448,184 shares in the last quarter. Verition Fund Management LLC acquired a new position in Sandy Spring Bancorp in the 3rd quarter worth $7,438,000. Elizabeth Park Capital Advisors Ltd. bought a new position in Sandy Spring Bancorp during the 2nd quarter worth about $4,778,000. Finally, Stieven Capital Advisors L.P. acquired a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at about $4,906,000. 66.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a report on Sunday. They issued a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Sandy Spring Bancorp currently has an average rating of "Hold" and a consensus target price of $28.25.

Sandy Spring Bancorp Stock Up 0.6 %

SASR traded up $0.21 during trading hours on Monday, hitting $33.87. 156,464 shares of the company's stock were exchanged, compared to its average volume of 211,445. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55. The stock's 50-day moving average is $35.45 and its two-hundred day moving average is $32.50. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 17.83 and a beta of 0.98.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.06). The business had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. During the same quarter in the prior year, the company earned $0.62 earnings per share. Sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share 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. Shareholders of record on Thursday, November 14th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.02%. Sandy Spring Bancorp's dividend payout ratio is 71.58%.

Sandy Spring Bancorp Company 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.