Victory Capital Management Inc. Has $25.09 Million Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Victory Capital Management Inc. increased its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 15.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 799,835 shares of the bank’s stock after purchasing an additional 104,968 shares during the quarter. Victory Capital Management Inc. owned approximately 1.77% of Sandy Spring Bancorp worth $25,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in Sandy Spring Bancorp in the 3rd quarter worth approximately $29,000. EntryPoint Capital LLC acquired a new stake in Sandy Spring Bancorp during the first quarter valued at $98,000. Hantz Financial Services Inc. purchased a new position in Sandy Spring Bancorp in the second quarter valued at about $105,000. Meeder Asset Management Inc. acquired a new position in Sandy Spring Bancorp in the 2nd quarter worth about $117,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Sandy Spring Bancorp during the 1st quarter worth about $122,000. 66.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com started coverage on Sandy Spring Bancorp in a research note on Saturday. They issued a “sell” rating for the company. DA Davidson boosted their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Down 1.0 %

Shares of SASR stock opened at $37.63 on Monday. The stock’s 50 day simple moving average is $33.09 and its 200 day simple moving average is $28.54. Sandy Spring Bancorp, Inc. has a twelve month low of $19.52 and a twelve month high of $39.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.81 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The firm had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same period in the prior year, the business earned $0.62 EPS. As a group, research analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 14th. Sandy Spring Bancorp’s dividend payout ratio is 71.58%.

Sandy Spring Bancorp Company 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.