Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Holdings Trimmed by State Street Corp

State Street Corp reduced its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,394,485 shares of the bank's stock after selling 76,892 shares during the quarter. State Street Corp owned about 3.09% of Sandy Spring Bancorp worth $43,745,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SASR. Great Lakes Advisors LLC raised its position in shares of Sandy Spring Bancorp by 432.5% during the 2nd quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank's stock worth $4,690,000 after buying an additional 156,377 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Sandy Spring Bancorp by 5.7% during the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank's stock valued at $11,528,000 after acquiring an additional 25,546 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank's stock worth $25,345,000 after purchasing an additional 75,596 shares in the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Sandy Spring Bancorp in the second quarter worth approximately $4,778,000. Finally, Victory Capital Management Inc. boosted its stake in Sandy Spring Bancorp by 1,199.7% during the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank's stock valued at $16,927,000 after purchasing an additional 641,402 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company's stock.

Analyst Upgrades and Downgrades

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

Sandy Spring Bancorp Price Performance

NASDAQ:SASR traded up $0.77 during trading hours on Friday, reaching $34.00. 824,648 shares of the company's stock were exchanged, compared to its average volume of 342,142. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $1.54 billion, a P/E ratio of 17.89 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The business's 50-day simple moving average is $35.69 and its two-hundred day simple moving average is $30.81.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $189.81 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.62 earnings per share. Sell-side analysts expect that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a yield of 4.00%. Sandy Spring Bancorp's payout ratio is presently 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.