Algert Global LLC Has $1.57 Million Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Algert Global LLC lifted its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 368.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 64,419 shares of the bank’s stock after purchasing an additional 50,659 shares during the period. Algert Global LLC’s holdings in Sandy Spring Bancorp were worth $1,569,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SASR. Carmichael Hill & Associates Inc. lifted its stake in shares of Sandy Spring Bancorp by 3.6% during the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after acquiring an additional 412 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Sandy Spring Bancorp by 2.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock valued at $620,000 after acquiring an additional 723 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Sandy Spring Bancorp by 9.8% during the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock worth $321,000 after buying an additional 1,176 shares during the last quarter. Inspire Investing LLC grew its position in shares of Sandy Spring Bancorp by 8.2% during the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock worth $402,000 after buying an additional 1,316 shares during the period. Finally, Gabelli Funds LLC increased its holdings in shares of Sandy Spring Bancorp by 2.8% in the second quarter. Gabelli Funds LLC now owns 55,500 shares of the bank’s stock worth $1,352,000 after acquiring an additional 1,500 shares in the last quarter. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SASR has been the subject of several recent research reports. StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Keefe, Bruyette & Woods boosted their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Finally, DA Davidson upped their target price on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

Sandy Spring Bancorp Trading Up 1.7 %

SASR stock opened at $31.06 on Friday. Sandy Spring Bancorp, Inc. has a 52 week low of $19.27 and a 52 week high of $34.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. The company’s 50-day simple moving average is $30.49 and its 200 day simple moving average is $25.68. The company has a market capitalization of $1.40 billion, a PE ratio of 15.23 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. The business had revenue of $184.70 million for the quarter, compared to the consensus estimate of $99.60 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.93 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s payout ratio is currently 66.67%.

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.