Metropolitan Life Insurance Co. NY held its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,673 shares of the bank’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned 0.07% of Sandy Spring Bancorp worth $642,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $177,000. 361 Capital LLC purchased a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $205,000. Stratos Wealth Partners LTD. boosted its stake in Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock valued at $251,000 after buying an additional 301 shares during the period. Karp Capital Management Corp purchased a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $267,000. Finally, Invictus RG purchased a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $289,000. Institutional investors own 67.73% of the company’s stock.
Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) traded up 0.53% during mid-day trading on Friday, hitting $38.07. 27,514 shares of the company traded hands. The firm has a 50-day moving average price of $39.76 and a 200 day moving average price of $40.92. Sandy Spring Bancorp, Inc. has a 52-week low of $27.86 and a 52-week high of $45.64. The firm has a market cap of $913.19 million, a price-to-earnings ratio of 16.30 and a beta of 1.02.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $55.90 million during the quarter, compared to the consensus estimate of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same quarter in the prior year, the company posted $0.44 earnings per share. Equities research analysts anticipate that Sandy Spring Bancorp, Inc. will post $2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, August 7th. Sandy Spring Bancorp’s payout ratio is currently 44.26%.
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Several analysts have recently commented on the stock. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 price objective on shares of Sandy Spring Bancorp in a research note on Friday, April 21st. Finally, ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 17th.
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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