Impact Partnership Wealth LLC Purchases New Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Impact Partnership Wealth LLC purchased a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,608 shares of the bank’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FineMark National Bank & Trust raised its holdings in Sandy Spring Bancorp by 11.6% in the 2nd quarter. FineMark National Bank & Trust now owns 48,156 shares of the bank’s stock worth $1,173,000 after purchasing an additional 5,000 shares in the last quarter. Carmichael Hill & Associates Inc. raised its holdings in Sandy Spring Bancorp by 3.6% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock worth $287,000 after purchasing an additional 412 shares in the last quarter. First National Trust Co bought a new position in Sandy Spring Bancorp in the 2nd quarter worth $233,000. Rhumbline Advisers raised its holdings in Sandy Spring Bancorp by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 74,906 shares of the bank’s stock worth $1,825,000 after purchasing an additional 2,325 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in Sandy Spring Bancorp by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock worth $321,000 after purchasing an additional 1,176 shares in the last quarter. 66.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SASR shares. StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. DA Davidson increased their price target on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their price target 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 research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $27.00.

Sandy Spring Bancorp Stock Down 0.3 %

Shares of Sandy Spring Bancorp stock opened at $31.51 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. The company has a 50-day moving average of $28.61 and a 200 day moving average of $24.36. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 15.45 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a 1 year low of $19.27 and a 1 year high of $32.38.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.43 by $0.08. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. The company had revenue of $184.70 million for the quarter, compared to the consensus estimate of $99.60 million. During the same period in the prior year, the firm posted $0.60 EPS. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

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.