Wealth Enhancement Advisory Services LLC Has $818,000 Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wealth Enhancement Advisory Services LLC increased its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,065 shares of the bank’s stock after acquiring an additional 609 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sandy Spring Bancorp were worth $818,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Carmichael Hill & Associates Inc. grew its position in 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 purchasing an additional 412 shares in the last quarter. Truist Financial Corp grew its position in Sandy Spring Bancorp by 2.6% during the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after purchasing an additional 1,104 shares in the last quarter. Commonwealth Equity Services LLC grew its position 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 valued at $321,000 after purchasing an additional 1,176 shares in the last quarter. Inspire Investing LLC grew its position in Sandy Spring Bancorp by 8.2% during the first quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock valued at $402,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Sandy Spring Bancorp by 2.8% during the second quarter. Gabelli Funds LLC now owns 55,500 shares of the bank’s stock valued at $1,352,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Performance

SASR stock opened at $38.51 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 20.27 and a beta of 0.94. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $38.52. The firm has a 50 day moving average of $32.00 and a two-hundred day moving average of $27.59.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.74% and a net margin of 11.54%. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, equities analysts anticipate that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, November 14th. Sandy Spring Bancorp’s dividend payout ratio is currently 71.58%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. DA Davidson boosted their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Thursday, October 31st. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.25.

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.