Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Sold by Algert Global LLC

Algert Global LLC decreased its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 7.9% during the 3rd quarter, Holdings Channel reports. The firm owned 59,319 shares of the bank’s stock after selling 5,100 shares during the quarter. Algert Global LLC’s holdings in Sandy Spring Bancorp were worth $1,861,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of Sandy Spring Bancorp in the first quarter worth about $302,000. CWM LLC lifted its stake in shares of Sandy Spring Bancorp by 59.4% in the second quarter. CWM LLC now owns 5,561 shares of the bank’s stock worth $135,000 after buying an additional 2,073 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of Sandy Spring Bancorp in the second quarter worth about $205,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sandy Spring Bancorp by 2.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after buying an additional 723 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Sandy Spring Bancorp by 69.1% in the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after buying an additional 60,850 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research note on Sunday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Price Performance

Shares of SASR stock opened at $37.51 on Thursday. 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 firm’s 50-day moving average is $33.90 and its two-hundred day moving average is $29.29. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The company has a market capitalization of $1.69 billion, a PE ratio of 19.77 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Monday, October 21st. The bank reported $0.40 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 firm had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. During the same period last year, the firm earned $0.62 earnings per share. Analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.34 dividend. 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 71.58%.

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.