Systematic Financial Management LP Boosts Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Systematic Financial Management LP raised its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 13.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,025,227 shares of the bank's stock after acquiring an additional 120,793 shares during the quarter. Systematic Financial Management LP owned about 2.27% of Sandy Spring Bancorp worth $32,161,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SASR. Wedge Capital Management L L P NC increased its holdings in Sandy Spring Bancorp by 69.1% in the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank's stock worth $3,628,000 after purchasing an additional 60,850 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Sandy Spring Bancorp by 432.5% in the second quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank's stock worth $4,690,000 after purchasing an additional 156,377 shares during the period. AQR Capital Management LLC boosted its position in shares of Sandy Spring Bancorp by 5.7% during the 2nd quarter. AQR Capital Management LLC now owns 473,241 shares of the bank's stock worth $11,528,000 after purchasing an additional 25,546 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Sandy Spring Bancorp by 10.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank's stock valued at $25,345,000 after buying an additional 75,596 shares in the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new position in Sandy Spring Bancorp during the 2nd quarter worth approximately $4,778,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a research report on Monday. They set 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 company's stock. According to MarketBeat.com, Sandy Spring Bancorp currently has a consensus rating of "Hold" and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Down 1.6 %

SASR stock traded down $0.61 during trading on Thursday, reaching $37.30. The stock had a trading volume of 139,160 shares, compared to its average volume of 344,039. 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 $1.68 billion, a price-to-earnings ratio of 19.95 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.55. The company's 50 day moving average is $34.56 and its two-hundred day moving average is $29.85.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $189.81 million during 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 firm posted $0.62 EPS. Equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.65%. Sandy Spring Bancorp's payout ratio is 71.58%.

Sandy Spring Bancorp 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.