UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 97,993 shares of the bank’s stock after selling 1,107 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sandy Spring Bancorp were worth $3,074,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new position in Sandy Spring Bancorp in the 3rd quarter worth approximately $29,000. Hantz Financial Services Inc. bought a new position in shares of Sandy Spring Bancorp in the second quarter worth approximately $105,000. Meeder Asset Management Inc. purchased a new position in shares of Sandy Spring Bancorp in the second quarter worth $117,000. CWM LLC raised its holdings in Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after buying an additional 2,073 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in Sandy Spring Bancorp during the 2nd quarter valued at $144,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Down 0.6 %

NASDAQ:SASR opened at $36.62 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average price is $35.42 and its 200-day moving average price is $30.47. The company has a market capitalization of $1.65 billion, a PE ratio of 19.27 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The business had revenue of $189.81 million during the quarter, compared to analysts’ expectations of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. During the same quarter last year, the company posted $0.62 EPS. On average, equities analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.71%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 71.58%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a report on Tuesday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.25.

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.