Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC raised its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,209 shares of the bank’s stock after buying an additional 832 shares during the period. Cerity Partners LLC owned approximately 0.06% of Sandy Spring Bancorp worth $822,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Sandy Spring Bancorp by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank’s stock worth $60,182,000 after purchasing an additional 108,703 shares during the period. Systematic Financial Management LP increased its stake in Sandy Spring Bancorp by 12.0% in the 2nd quarter. Systematic Financial Management LP now owns 904,434 shares of the bank’s stock worth $22,032,000 after purchasing an additional 97,262 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Sandy Spring Bancorp by 10.3% during 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Sandy Spring Bancorp by 15.1% in the third 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 during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Sandy Spring Bancorp by 18.5% in the second 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 and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Down 1.3 %

Shares of Sandy Spring Bancorp stock opened at $37.43 on Friday. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55. The company has a market cap of $1.69 billion, a P/E ratio of 19.95 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $34.56 and a 200 day moving average price of $29.85.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The company had revenue of $189.81 million during the quarter, compared to analysts’ expectations of $101.60 million. During the same period last year, the company earned $0.62 earnings per share. As a group, analysts expect that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Thursday, November 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 71.58%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a report on Monday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus price target of $28.25.

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.