Rhumbline Advisers increased its holdings in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 8.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,264 shares of the bank’s stock after buying an additional 4,665 shares during the period. Rhumbline Advisers owned about 0.16% of Sandy Spring Bancorp worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Coastal Investment Advisors Inc. increased its position in shares of Sandy Spring Bancorp by 87.4% during the second quarter. Coastal Investment Advisors Inc. now owns 937 shares of the bank’s stock worth $32,000 after purchasing an additional 437 shares in the last quarter. Royal Bank of Canada increased its position in shares of Sandy Spring Bancorp by 40.6% during the second quarter. Royal Bank of Canada now owns 1,125 shares of the bank’s stock worth $39,000 after purchasing an additional 325 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Sandy Spring Bancorp during the second quarter worth $44,000. Resources Investment Advisors LLC. acquired a new position in shares of Sandy Spring Bancorp during the second quarter worth $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sandy Spring Bancorp by 60.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,062 shares of the bank’s stock worth $107,000 after purchasing an additional 1,153 shares in the last quarter. 70.73% of the stock is owned by institutional investors.
NASDAQ SASR opened at $35.13 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 1.01. The stock’s fifty day moving average price is $34.20 and its 200 day moving average price is $34.32. Sandy Spring Bancorp Inc. has a 1 year low of $29.83 and a 1 year high of $36.79. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.14 and a beta of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, November 12th. Sandy Spring Bancorp’s payout ratio is 41.96%.
A number of brokerages have recently issued reports on SASR. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Sandler O’Neill raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, September 26th. Finally, Zacks Investment Research downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.06.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.
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