Hotchkis & Wiley Capital Management LLC Sells 135,310 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Hotchkis & Wiley Capital Management LLC decreased its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 23.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 436,440 shares of the bank’s stock after selling 135,310 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Sandy Spring Bancorp were worth $13,691,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Sandy Spring Bancorp during the third quarter worth approximately $29,000. Hantz Financial Services Inc. acquired a new stake in Sandy Spring Bancorp during the 2nd quarter worth approximately $105,000. Meeder Asset Management Inc. bought a new stake in Sandy Spring Bancorp in the 2nd quarter valued at $117,000. SG Americas Securities LLC acquired a new position in Sandy Spring Bancorp in the 3rd quarter valued at $170,000. Finally, CWM LLC increased its position in Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock worth $135,000 after buying an additional 2,073 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Sandy Spring Bancorp Trading Down 0.9 %

Shares of NASDAQ:SASR opened at $37.76 on Wednesday. The company has a market capitalization of $1.70 billion, a P/E ratio of 19.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $34.30 and its 200 day simple moving average is $29.70. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55.

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

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, November 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 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.