Tritonpoint Wealth LLC Acquires 302 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Tritonpoint Wealth LLC grew its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,119 shares of the bank’s stock after purchasing an additional 302 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Sandy Spring Bancorp were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SASR. Franklin Resources Inc. lifted its holdings in Sandy Spring Bancorp by 93.9% during the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after acquiring an additional 615,591 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sandy Spring Bancorp by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after buying an additional 35,271 shares during the period. Systematic Financial Management LP increased its position in shares of Sandy Spring Bancorp by 13.4% during the third quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank’s stock worth $32,161,000 after acquiring an additional 120,793 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Sandy Spring Bancorp by 17.4% during the third quarter. Wellington Management Group LLP now owns 819,475 shares of the bank’s stock worth $25,707,000 after acquiring an additional 121,574 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Sandy Spring Bancorp by 10.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock valued at $25,345,000 after acquiring an additional 75,596 shares in the last quarter. 66.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a research note on Monday, January 27th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.25.

Sandy Spring Bancorp Price Performance

NASDAQ:SASR opened at $33.83 on Monday. The firm has a fifty day simple moving average of $34.73 and a 200 day simple moving average of $32.96. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55. The stock has a market capitalization of $1.53 billion, a PE ratio of 75.18 and a beta of 0.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. On average, research analysts expect that Sandy Spring Bancorp, Inc. will post 2.51 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a yield of 4.02%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 302.22%.

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.