Penn Capital Management Company LLC increased its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,080 shares of the bank’s stock after buying an additional 17,173 shares during the period. Penn Capital Management Company LLC owned 0.23% of Sandy Spring Bancorp worth $3,596,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in SASR. Vanguard Group Inc. increased its holdings in Sandy Spring Bancorp by 10.5% during the first quarter. Vanguard Group Inc. now owns 2,741,687 shares of the bank’s stock worth $123,156,000 after buying an additional 261,172 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Sandy Spring Bancorp by 2,091.5% in the fourth quarter. Russell Investments Group Ltd. now owns 181,737 shares of the bank’s stock valued at $6,403,000 after purchasing an additional 173,444 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Sandy Spring Bancorp by 3.2% in the third quarter. BlackRock Inc. now owns 4,277,133 shares of the bank’s stock valued at $150,812,000 after purchasing an additional 133,565 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sandy Spring Bancorp by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,508,246 shares of the bank’s stock valued at $88,367,000 after purchasing an additional 102,383 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Sandy Spring Bancorp by 10.0% in the third quarter. Alliancebernstein L.P. now owns 807,322 shares of the bank’s stock valued at $28,466,000 after purchasing an additional 73,547 shares during the last quarter. 64.95% of the stock is currently owned by institutional investors and hedge funds.
Sandy Spring Bancorp Trading Up 0.1 %
SASR opened at $25.43 on Friday. Sandy Spring Bancorp, Inc. has a twelve month low of $19.47 and a twelve month high of $42.54. The company has a 50-day simple moving average of $22.65 and a 200 day simple moving average of $29.44. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.59 and a beta of 0.90.
Sandy Spring Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Wednesday, May 10th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $1.36 annualized dividend and a yield of 5.35%. Sandy Spring Bancorp’s dividend payout ratio is 35.23%.
Analysts Set New Price Targets
Several equities analysts have commented on SASR shares. Stephens decreased their price objective on shares of Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, April 20th. TheStreet downgraded shares of Sandy Spring Bancorp from a “b-” rating to a “c+” rating in a report on Wednesday, April 26th. Keefe, Bruyette & Woods reduced their target price on shares of Sandy Spring Bancorp from $35.00 to $30.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Finally, Piper Sandler reduced their target price on shares of Sandy Spring Bancorp from $31.00 to $27.00 in a research report on Monday, April 24th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $28.00.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.
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