Bridgeway Capital Management Inc. raised its position in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 223.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,100 shares of the bank’s stock after purchasing an additional 48,400 shares during the quarter. Bridgeway Capital Management Inc.’s holdings in Sandy Spring Bancorp were worth $2,756,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Panagora Asset Management Inc. acquired a new position in shares of Sandy Spring Bancorp in the third quarter worth $170,000. Teton Advisors Inc. acquired a new position in shares of Sandy Spring Bancorp in the third quarter worth $256,000. Gamco Investors INC. ET AL acquired a new position in shares of Sandy Spring Bancorp in the third quarter worth $257,000. Cubist Systematic Strategies LLC acquired a new position in shares of Sandy Spring Bancorp in the second quarter worth $264,000. Finally, US Bancorp DE increased its stake in shares of Sandy Spring Bancorp by 54,742.9% in the third quarter. US Bancorp DE now owns 7,678 shares of the bank’s stock worth $302,000 after acquiring an additional 7,664 shares during the last quarter. 69.09% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on SASR shares. BidaskClub downgraded shares of Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 28th. Robert W. Baird raised shares of Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Friday, October 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 19th. Finally, Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.14.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, October 18th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.02). The business had revenue of $82.62 million during the quarter, compared to the consensus estimate of $82.74 million. Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Sandy Spring Bancorp Inc. will post 3.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, November 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 44.09%.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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