Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 16.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 313,534 shares of the bank’s stock after acquiring an additional 43,987 shares during the period. Wellington Management Group LLP owned 0.70% of Sandy Spring Bancorp worth $8,541,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Sandy Spring Bancorp by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 540,254 shares of the bank’s stock valued at $11,578,000 after purchasing an additional 48,165 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Sandy Spring Bancorp by 16.4% during the 3rd quarter. Deutsche Bank AG now owns 20,926 shares of the bank’s stock worth $448,000 after acquiring an additional 2,950 shares during the period. Invesco Ltd. boosted its position in shares of Sandy Spring Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 1,432,995 shares of the bank’s stock worth $30,709,000 after acquiring an additional 65,841 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Sandy Spring Bancorp in the third quarter valued at approximately $361,000. Finally, Caxton Associates LP acquired a new position in Sandy Spring Bancorp during the third quarter worth approximately $239,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SASR shares. Stephens reissued an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. Janney Montgomery Scott assumed coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They set a “neutral” rating and a $25.00 price target for the company. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Sandy Spring Bancorp Stock Up 0.5 %

Shares of NASDAQ SASR opened at $23.55 on Friday. The stock has a fifty day moving average price of $22.54 and a 200 day moving average price of $23.25. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55. Sandy Spring Bancorp, Inc. has a 12-month low of $19.27 and a 12-month high of $27.90. The company has a market cap of $1.06 billion, a P/E ratio of 11.54 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $184.38 million during the quarter, compared to analyst estimates of $97.45 million. Sandy Spring Bancorp had a return on equity of 6.65% and a net margin of 12.74%. During the same quarter last year, the firm earned $1.16 earnings per share. Research analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.95 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.77%. Sandy Spring Bancorp’s payout ratio is currently 66.67%.

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.