Wedge Capital Management L L P NC Has $3.41 Million Stock Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wedge Capital Management L L P NC decreased its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 27.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,739 shares of the bank’s stock after selling 40,182 shares during the period. Wedge Capital Management L L P NC’s holdings in Sandy Spring Bancorp were worth $3,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SASR. Scarborough Advisors LLC acquired a new position in Sandy Spring Bancorp in the fourth quarter valued at approximately $77,000. Wellington Management Group LLP raised its position in shares of Sandy Spring Bancorp by 16.3% during the 4th quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock valued at $8,541,000 after acquiring an additional 43,987 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Sandy Spring Bancorp by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 50,876 shares of the bank’s stock valued at $1,386,000 after purchasing an additional 1,578 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of Sandy Spring Bancorp in the 1st quarter worth $220,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Sandy Spring Bancorp by 19.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 15,450 shares of the bank’s stock worth $358,000 after purchasing an additional 2,464 shares during the period. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sandy Spring Bancorp Trading Up 1.8 %

NASDAQ:SASR opened at $33.00 on Wednesday. The company has a market cap of $1.49 billion, a P/E ratio of 16.50 and a beta of 0.95. Sandy Spring Bancorp, Inc. has a twelve month low of $19.27 and a twelve month high of $34.19. The business has a 50 day moving average price of $30.83 and a two-hundred day moving average price of $26.32. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $184.70 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.60 earnings per share. As a group, analysts expect that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is currently 68.00%.

Sandy Spring Bancorp Company 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.