AQR Capital Management LLC raised its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 86.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,053 shares of the bank’s stock after buying an additional 73,221 shares during the period. AQR Capital Management LLC owned 0.66% of Sandy Spring Bancorp worth $6,479,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in Sandy Spring Bancorp during the first quarter worth $177,000. 361 Capital LLC acquired a new stake in Sandy Spring Bancorp during the first quarter worth $205,000. Tudor Investment Corp Et Al acquired a new stake in Sandy Spring Bancorp during the fourth quarter worth $213,000. Stratos Wealth Partners LTD. raised its stake in Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock worth $251,000 after buying an additional 301 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Sandy Spring Bancorp during the first quarter valued at approximately $267,000. Institutional investors and hedge funds own 66.28% of the company’s stock.
Shares of Sandy Spring Bancorp, Inc. (SASR) traded up 0.43% during trading on Tuesday, hitting $39.64. The stock had a trading volume of 80,376 shares. The stock has a market cap of $950.69 million, a price-to-earnings ratio of 16.96 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a 12 month low of $27.86 and a 12 month high of $45.64. The company’s 50 day moving average price is $40.02 and its 200 day moving average price is $40.99.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $55.90 million for the quarter, compared to the consensus estimate of $55.53 million. Sandy Spring Bancorp had a return on equity of 10.52% and a net margin of 24.33%. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts expect that Sandy Spring Bancorp, Inc. will post $2.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th will be issued a $0.26 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.62%. Sandy Spring Bancorp’s dividend payout ratio is presently 44.26%.
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Several equities analysts have recently commented on the company. Zacks Investment Research lowered Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $40.00 price target on shares of Sandy Spring Bancorp in a research note on Friday, April 21st. Finally, ValuEngine upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 17th.
Sandy Spring Bancorp Company 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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