Rhumbline Advisers boosted its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Free Report) by 3.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,906 shares of the bank’s stock after buying an additional 2,325 shares during the period. Rhumbline Advisers owned approximately 0.17% of Sandy Spring Bancorp worth $1,825,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Sandy Spring Bancorp during the 4th quarter worth approximately $8,423,000. Wedge Capital Management L L P NC boosted its holdings in Sandy Spring Bancorp by 69.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after acquiring an additional 60,850 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sandy Spring Bancorp by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock worth $61,033,000 after acquiring an additional 52,454 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Sandy Spring Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock worth $8,541,000 after buying an additional 43,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sandy Spring Bancorp by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock worth $15,816,000 after buying an additional 40,374 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors and hedge funds.
Sandy Spring Bancorp Stock Performance
NASDAQ:SASR opened at $32.54 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market cap of $1.47 billion, a PE ratio of 16.17 and a beta of 0.96. The business has a 50 day moving average price of $30.11 and a 200-day moving average price of $25.06. Sandy Spring Bancorp, Inc. has a fifty-two week low of $19.27 and a fifty-two week high of $34.19.
Sandy Spring Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were issued a $0.34 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.18%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on SASR shares. Keefe, Bruyette & Woods boosted their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, DA Davidson upped their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.00.
Read Our Latest Stock Report on SASR
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.
Recommended Stories
- Five stocks we like better than Sandy Spring Bancorp
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- Analysts Predict 85% Upside for Wave Life Sciences After Rate Cut
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- How is Compound Interest Calculated?
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
Want to see what other hedge funds are holding SASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Free Report).
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.