Spire Wealth Management Reduces Stock Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Spire Wealth Management lowered its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 24.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,024 shares of the bank’s stock after selling 1,638 shares during the period. Spire Wealth Management’s holdings in Sandy Spring Bancorp were worth $169,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tritonpoint Wealth LLC raised its holdings in Sandy Spring Bancorp by 1.5% in the 4th quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock worth $678,000 after purchasing an additional 302 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in Sandy Spring Bancorp by 1,296.9% in the 4th quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock worth $424,000 after purchasing an additional 11,672 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Sandy Spring Bancorp by 41.7% in the 4th quarter. Hantz Financial Services Inc. now owns 22,582 shares of the bank’s stock worth $761,000 after purchasing an additional 6,641 shares in the last quarter. SG Americas Securities LLC raised its holdings in Sandy Spring Bancorp by 140.6% in the 4th quarter. SG Americas Securities LLC now owns 13,004 shares of the bank’s stock worth $438,000 after purchasing an additional 7,600 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sandy Spring Bancorp by 96.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after purchasing an additional 34,735 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a report on Tuesday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $28.25.

Sandy Spring Bancorp Stock Down 1.9 %

Shares of Sandy Spring Bancorp stock opened at $34.40 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average of $34.37 and a 200 day moving average of $33.08. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 76.45 and a beta of 0.97. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.51 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a yield of 3.95%. Sandy Spring Bancorp’s dividend payout ratio is currently 302.23%.

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.