Strs Ohio Sells 3,000 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Strs Ohio trimmed its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,200 shares of the bank’s stock after selling 3,000 shares during the quarter. Strs Ohio owned approximately 0.07% of Sandy Spring Bancorp worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SASR. CWM LLC grew its position in Sandy Spring Bancorp by 30.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $48,000 after acquiring an additional 512 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $94,000. SG Americas Securities LLC bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sandy Spring Bancorp by 37.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,508 shares of the bank’s stock worth $204,000 after buying an additional 2,608 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $209,000. 66.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SASR shares. Stephens reiterated an “equal weight” rating and issued a $25.00 price objective on shares of Sandy Spring Bancorp in a research report on Wednesday. StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Janney Montgomery Scott began coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.50.

Sandy Spring Bancorp Trading Down 1.9 %

NASDAQ SASR 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 twelve month low of $19.27 and a twelve month high of $27.90. The firm has a market capitalization of $967.50 million, a PE ratio of 10.54 and a beta of 0.94. The stock’s 50 day moving average is $21.64 and its 200 day moving average is $22.94.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $184.38 million for the quarter, compared to analyst estimates of $97.45 million. During the same period in the previous year, the company posted $1.16 earnings per share. Research analysts forecast that Sandy Spring Bancorp, Inc. will post 2.07 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

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

Sandy Spring Bancorp Profile

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.