Wellington Management Group LLP Purchases 121,574 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wellington Management Group LLP raised its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 17.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 819,475 shares of the bank's stock after acquiring an additional 121,574 shares during the quarter. Wellington Management Group LLP owned about 1.82% of Sandy Spring Bancorp worth $25,707,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Sandy Spring Bancorp by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank's stock valued at $60,182,000 after purchasing an additional 108,703 shares during the period. Systematic Financial Management LP increased its holdings in Sandy Spring Bancorp by 13.4% in the third quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank's stock worth $32,161,000 after purchasing an additional 120,793 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Sandy Spring Bancorp by 10.3% in the third 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 during the period. Victory Capital Management Inc. boosted its holdings in shares of Sandy Spring Bancorp by 15.1% during the 3rd quarter. Victory Capital Management Inc. now owns 799,835 shares of the bank's stock worth $25,091,000 after buying an additional 104,968 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Sandy Spring Bancorp by 18.5% during the 2nd quarter. American Century Companies Inc. now owns 775,252 shares of the bank's stock worth $18,885,000 after buying an additional 120,996 shares during the period. Institutional investors own 66.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a research note on Tuesday. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's 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 Stock Down 0.6 %

Shares of NASDAQ SASR traded down $0.23 during midday trading on Friday, hitting $36.62. 147,674 shares of the stock traded hands, compared to its average volume of 340,969. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.55. The business has a 50 day moving average price of $35.42 and a two-hundred day moving average price of $30.47. The company has a market cap of $1.65 billion, a PE ratio of 19.27 and a beta of 0.96.

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 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 previous year, the company posted $0.62 EPS. On average, equities analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.36 annualized dividend and a yield of 3.71%. Sandy Spring Bancorp's payout ratio is 71.58%.

About Sandy Spring Bancorp

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.