Acadian Asset Management LLC Takes $341,000 Position in Sandy Spring Bancorp Inc. (SASR)

Acadian Asset Management LLC bought a new stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,892 shares of the bank’s stock, valued at approximately $341,000.

Several other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Sandy Spring Bancorp by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,383,316 shares of the bank’s stock valued at $93,688,000 after purchasing an additional 137,735 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sandy Spring Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,645,043 shares of the bank’s stock valued at $64,666,000 after purchasing an additional 43,886 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Sandy Spring Bancorp by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 1,645,043 shares of the bank’s stock valued at $64,666,000 after purchasing an additional 43,886 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sandy Spring Bancorp by 2.9% in the 3rd quarter. Renaissance Technologies LLC now owns 956,210 shares of the bank’s stock valued at $37,589,000 after purchasing an additional 26,500 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Sandy Spring Bancorp by 53.0% in the 3rd quarter. Alliancebernstein L.P. now owns 841,736 shares of the bank’s stock valued at $33,089,000 after purchasing an additional 291,680 shares in the last quarter. Institutional investors own 69.04% of the company’s stock.

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Sandy Spring Bancorp stock opened at $33.05 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. Sandy Spring Bancorp Inc. has a 12-month low of $29.87 and a 12-month high of $43.87. The stock has a market capitalization of $1.24 billion, a P/E ratio of 11.56 and a beta of 0.72.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, January 17th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07). Sandy Spring Bancorp had a net margin of 26.19% and a return on equity of 10.10%. The business had revenue of $80.18 million during the quarter, compared to the consensus estimate of $81.94 million. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts predict that Sandy Spring Bancorp Inc. will post 3.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 20th. Investors of record on Wednesday, February 13th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, February 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.39%. Sandy Spring Bancorp’s dividend payout ratio is 39.16%.

In other Sandy Spring Bancorp news, Director Mark E. Friis purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was acquired at an average cost of $31.86 per share, with a total value of $31,860.00. Following the completion of the acquisition, the director now directly owns 11,235 shares of the company’s stock, valued at approximately $357,947.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronda M. Mcdowell sold 744 shares of Sandy Spring Bancorp stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total value of $26,054.88. Following the completion of the transaction, the executive vice president now directly owns 6,034 shares of the company’s stock, valued at $211,310.68. The disclosure for this sale can be found here. Insiders own 3.31% of the company’s stock.

SASR has been the topic of several recent analyst reports. BidaskClub downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 22nd. Gabelli reaffirmed a “buy” rating on shares of Sandy Spring Bancorp in a report on Friday, January 18th. Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, December 20th. Sandler O’Neill cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Friday, January 18th. Finally, Keefe, Bruyette & Woods cut Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the company from $44.00 to $35.00 in a report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.00.

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Sandy Spring Bancorp Profile

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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

Further Reading: Analyzing a company’s cash flow statement

Want to see what other hedge funds are holding SASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandy Spring Bancorp Inc. (NASDAQ:SASR).

Institutional Ownership by Quarter for Sandy Spring Bancorp (NASDAQ:SASR)

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