Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Bought by Foundry Partners LLC

Foundry Partners LLC raised its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 282,026 shares of the bank’s stock after acquiring an additional 14,197 shares during the period. Foundry Partners LLC owned approximately 0.63% of Sandy Spring Bancorp worth $6,870,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at about $77,000. EntryPoint Capital LLC purchased a new position in shares of Sandy Spring Bancorp in the 1st quarter valued at about $98,000. Hantz Financial Services Inc. purchased a new position in shares of Sandy Spring Bancorp in the 2nd quarter valued at about $105,000. SG Americas Securities LLC purchased a new position in shares of Sandy Spring Bancorp in the 1st quarter valued at about $122,000. Finally, CWM LLC increased its holdings in shares of Sandy Spring Bancorp by 59.4% in the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after purchasing an additional 2,073 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, DA Davidson raised their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Sandy Spring Bancorp has an average rating of “Hold” and a consensus price target of $27.00.

Sandy Spring Bancorp Price Performance

NASDAQ:SASR traded up $0.29 during mid-day trading on Friday, hitting $31.80. 11,614 shares of the company’s stock traded hands, compared to its average volume of 305,543. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. The firm’s 50 day simple moving average is $28.61 and its 200 day simple moving average is $24.36. Sandy Spring Bancorp, Inc. has a 1 year low of $19.27 and a 1 year high of $32.38. The company has a market cap of $1.43 billion, a PE ratio of 15.45 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $184.70 million during the quarter, compared to the consensus estimate of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same period in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts expect that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.28%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Sandy Spring Bancorp 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.