Algert Global LLC Decreases Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Algert Global LLC lowered its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,319 shares of the bank’s stock after selling 5,100 shares during the period. Algert Global LLC owned 0.13% of Sandy Spring Bancorp worth $1,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Carmichael Hill & Associates Inc. increased its stake in shares of Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock worth $287,000 after acquiring an additional 412 shares during the period. First National Trust Co increased its stake in shares of Sandy Spring Bancorp by 5.2% in the third quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after acquiring an additional 500 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sandy Spring Bancorp by 2.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after acquiring an additional 609 shares during the period. Cerity Partners LLC increased its stake in shares of Sandy Spring Bancorp by 3.3% in the third quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock worth $822,000 after acquiring an additional 832 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Sandy Spring Bancorp in the third quarter worth $29,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Sandy Spring Bancorp in a research note on Sunday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Down 0.9 %

SASR stock opened at $37.51 on Thursday. The firm has a market cap of $1.69 billion, a PE ratio of 19.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $33.90 and its 200 day moving average is $29.29. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The firm had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same quarter in the prior year, the business posted $0.62 EPS. On average, research analysts forecast that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.34 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.63%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 71.58%.

About Sandy Spring Bancorp

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.