Fmr LLC Holds Position in Sandy Spring Bancorp, Inc. (SASR)
Fmr LLC continued to hold its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,733 shares of the bank’s stock at the end of the second quarter. Fmr LLC’s holdings in Sandy Spring Bancorp were worth $314,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after buying an additional 10,359 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Sandy Spring Bancorp by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 471,799 shares of the bank’s stock worth $19,183,000 after buying an additional 1,347 shares during the last quarter. State Street Corp lifted its holdings in Sandy Spring Bancorp by 0.5% during the 1st quarter. State Street Corp now owns 448,049 shares of the bank’s stock worth $18,364,000 after buying an additional 2,160 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Sandy Spring Bancorp by 16.2% during the 1st quarter. Renaissance Technologies LLC now owns 340,400 shares of the bank’s stock worth $13,953,000 after buying an additional 47,500 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Sandy Spring Bancorp by 90.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 309,182 shares of the bank’s stock worth $12,571,000 after buying an additional 147,030 shares during the last quarter. 67.99% of the stock is currently owned by institutional investors.
Shares of Sandy Spring Bancorp, Inc. (SASR) opened at $38.23 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $917.29, a P/E ratio of 15.86 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a 1 year low of $32.20 and a 1 year high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The company had revenue of $55.44 million for the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. During the same quarter in the previous year, the company posted $0.56 earnings per share. research analysts predict that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, November 7th. Sandy Spring Bancorp’s payout ratio is 43.15%.
SASR has been the topic of a number of research analyst reports. BidaskClub downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.00.
Sandy Spring Bancorp 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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