Victory Capital Management Inc. Sells 322,693 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Victory Capital Management Inc. reduced its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 40.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,142 shares of the bank's stock after selling 322,693 shares during the period. Victory Capital Management Inc. owned about 1.06% of Sandy Spring Bancorp worth $16,084,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at about $217,000. Associated Banc Corp acquired a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at about $249,000. Meeder Asset Management Inc. increased its holdings in shares of Sandy Spring Bancorp by 66.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank's stock valued at $249,000 after acquiring an additional 3,168 shares during the last quarter. Heritage Investors Management Corp acquired a new position in shares of Sandy Spring Bancorp during the 4th quarter valued at about $281,000. Finally, Intech Investment Management LLC acquired a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at about $314,000. 66.90% of the stock is owned by institutional investors and hedge funds.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock traded up $0.42 during mid-day trading on Friday, reaching $29.12. The stock had a trading volume of 163,740 shares, compared to its average volume of 245,921. The firm's 50 day simple moving average is $32.51 and its 200 day simple moving average is $33.49. 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 one year low of $19.52 and a one year high of $39.55. The firm has a market cap of $1.31 billion, a PE ratio of 64.71 and a beta of 0.96.

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Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings data 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, analysts forecast that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.67%. Sandy Spring Bancorp's dividend payout ratio is currently 302.22%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Sandy Spring Bancorp in a report on Sunday. They set a "sell" rating on the stock.

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.