Fidelis Capital Partners LLC Sells 392 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Fidelis Capital Partners LLC cut its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,242 shares of the bank’s stock after selling 392 shares during the quarter. Fidelis Capital Partners LLC owned 0.06% of Sandy Spring Bancorp worth $615,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in Sandy Spring Bancorp in the 4th quarter worth about $77,000. EntryPoint Capital LLC purchased a new position in shares of Sandy Spring Bancorp during the first quarter valued at approximately $98,000. Hantz Financial Services Inc. bought a new position in Sandy Spring Bancorp during the second quarter valued at approximately $105,000. Meeder Asset Management Inc. bought a new position in Sandy Spring Bancorp during the second quarter valued at approximately $117,000. Finally, SG Americas Securities LLC purchased a new stake in Sandy Spring Bancorp in the first quarter worth approximately $122,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Price Performance

Shares of Sandy Spring Bancorp stock opened at $32.54 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of 15.95 and a beta of 0.96. 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 stock’s fifty day moving average is $30.22 and its 200 day moving average is $25.17. Sandy Spring Bancorp, Inc. has a one year low of $19.27 and a one year high of $34.19.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. During the same period in the previous year, the firm earned $0.60 EPS. Sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were paid a $0.34 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.18%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Keefe, Bruyette & Woods increased their target price on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, DA Davidson raised their target price on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock 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 given a hold rating to the company’s stock. Based on data from MarketBeat, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus price target of $27.00.

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.