Forest Hill Capital LLC boosted its holdings in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 26.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 322,262 shares of the bank’s stock after buying an additional 66,750 shares during the quarter. Sandy Spring Bancorp accounts for 3.6% of Forest Hill Capital LLC’s investment portfolio, making the stock its 8th largest position. Forest Hill Capital LLC’s holdings in Sandy Spring Bancorp were worth $12,575,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Cornerstone Capital Management Holdings LLC. acquired a new stake in Sandy Spring Bancorp during the 4th quarter worth approximately $214,000. TIAA CREF Investment Management LLC lifted its holdings in Sandy Spring Bancorp by 1.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 103,927 shares of the bank’s stock worth $4,055,000 after buying an additional 1,515 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Sandy Spring Bancorp by 8.7% in the 4th quarter. Two Sigma Investments LP now owns 71,781 shares of the bank’s stock valued at $2,801,000 after purchasing an additional 5,716 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Sandy Spring Bancorp by 36.8% in the 4th quarter. Deutsche Bank AG now owns 104,843 shares of the bank’s stock valued at $4,089,000 after purchasing an additional 28,178 shares in the last quarter. Finally, Jefferies Group LLC acquired a new stake in shares of Sandy Spring Bancorp in the 4th quarter valued at $363,000. Institutional investors own 73.40% of the company’s stock.
In other Sandy Spring Bancorp news, Director Joseph S. Bracewell sold 50,000 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $39.21, for a total transaction of $1,960,500.00. Following the transaction, the director now directly owns 42,173 shares of the company’s stock, valued at approximately $1,653,603.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shaza L. Andersen sold 8,546 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $39.64, for a total transaction of $338,763.44. Following the transaction, the director now directly owns 77,344 shares in the company, valued at $3,065,916.16. The disclosure for this sale can be found here. Insiders sold a total of 93,256 shares of company stock worth $3,660,166 over the last ninety days. Insiders own 2.60% of the company’s stock.
Sandy Spring Bancorp Inc. (SASR) opened at $39.75 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $1,417.06, a price-to-earnings ratio of 18.07, a P/E/G ratio of 1.03 and a beta of 0.87. Sandy Spring Bancorp Inc. has a 52-week low of $36.41 and a 52-week high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $55.79 million for the quarter, compared to the consensus estimate of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. research analysts predict that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 47.27%.
SASR has been the topic of a number of analyst reports. Gabelli initiated coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. Stephens upgraded shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a report on Thursday, February 22nd. BidaskClub lowered shares of Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Finally, Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.80.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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