Massachusetts Financial Services Co. MA Boosts Stock Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Massachusetts Financial Services Co. MA grew its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASRFree Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 854,774 shares of the bank’s stock after purchasing an additional 4,855 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.90% of Sandy Spring Bancorp worth $23,284,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Sandy Spring Bancorp in the third quarter valued at about $94,000. SG Americas Securities LLC bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at about $115,000. SteelPeak Wealth LLC purchased a new position in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $218,000. DAVENPORT & Co LLC bought a new position in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $230,000. Finally, M&T Bank Corp purchased a new stake in Sandy Spring Bancorp during the fourth quarter valued at approximately $257,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Price Performance

Shares of NASDAQ:SASR opened at $23.93 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55. Sandy Spring Bancorp, Inc. has a twelve month low of $19.27 and a twelve month high of $27.90. The company’s 50 day moving average is $21.68 and its 200 day moving average is $23.15. The company has a market cap of $1.08 billion, a PE ratio of 11.73 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $184.38 million for the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a return on equity of 6.65% and a net margin of 12.74%. During the same period last year, the firm earned $1.16 EPS. On average, sell-side analysts forecast that Sandy Spring Bancorp, Inc. will post 1.97 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.68%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They set a “neutral” rating and a $25.00 price target on the stock. StockNews.com lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Stephens reiterated an “equal weight” rating and issued a $25.00 target price on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.50.

Check Out Our Latest Research Report on Sandy Spring Bancorp

About Sandy Spring Bancorp

(Free Report)

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.

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

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