State of New Jersey Common Pension Fund D cut its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 19.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,549 shares of the bank's stock after selling 17,432 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.16% of Sandy Spring Bancorp worth $2,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Sandy Spring Bancorp in the 3rd quarter valued at $29,000. EntryPoint Capital LLC bought a new stake in shares of Sandy Spring Bancorp in the first quarter worth about $98,000. Hantz Financial Services Inc. acquired a new stake in shares of Sandy Spring Bancorp during the second quarter worth about $105,000. Meeder Asset Management Inc. bought a new position in shares of Sandy Spring Bancorp during the 2nd quarter valued at about $117,000. Finally, SG Americas Securities LLC acquired a new position in shares of Sandy Spring Bancorp in the 1st quarter valued at approximately $122,000. Institutional investors own 66.90% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on SASR. StockNews.com began coverage on shares of Sandy Spring Bancorp in a report on Friday, November 8th. They issued a "sell" rating for the company. Keefe, Bruyette & Woods upped their target price on shares of 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 lifted their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. One equities 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 stock has a consensus rating of "Hold" and an average target price of $28.25.
Read Our Latest Stock Report on SASR
Sandy Spring Bancorp Stock Down 1.6 %
Shares of SASR stock traded down $0.60 during trading on Friday, reaching $37.41. The company's stock had a trading volume of 132,752 shares, compared to its average volume of 350,967. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.06. The business has a fifty day moving average price of $32.95 and a 200-day moving average price of $28.31. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 20.01 and a beta of 0.94. 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 (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. Analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current year.
Sandy Spring Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 3.64%. Sandy Spring Bancorp's dividend payout ratio is 71.58%.
Sandy Spring Bancorp Company Profile
(
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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