Wedge Capital Management L L P NC Has $2.46 Million Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wedge Capital Management L L P NC increased its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 54.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,130 shares of the bank’s stock after purchasing an additional 31,672 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.20% of Sandy Spring Bancorp worth $2,455,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its stake in Sandy Spring Bancorp by 30.0% in the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $48,000 after purchasing an additional 512 shares in the last quarter. Quantbot Technologies LP acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth about $94,000. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the 3rd quarter worth about $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sandy Spring Bancorp by 37.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,508 shares of the bank’s stock valued at $204,000 after acquiring an additional 2,608 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC bought a new position in shares of Sandy Spring Bancorp in the third quarter worth about $209,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Price Performance

Shares of SASR stock opened at $21.50 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. Sandy Spring Bancorp, Inc. has a 12-month low of $19.27 and a 12-month high of $27.90. The firm has a fifty day moving average of $21.64 and a 200-day moving average of $22.94. The firm has a market capitalization of $967.50 million, a price-to-earnings ratio of 10.54 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The firm had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 2.07 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 6.33%. Sandy Spring Bancorp’s payout ratio is 66.67%.

Analyst Ratings Changes

Several analysts have recently commented on SASR shares. StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Stephens reaffirmed an “equal weight” rating and set a $25.00 price target on shares of Sandy Spring Bancorp in a research note on Wednesday. Finally, Janney Montgomery Scott assumed coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.50.

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.