Court Place Advisors LLC Sells 1,700 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Court Place Advisors LLC cut its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,475 shares of the bank’s stock after selling 1,700 shares during the quarter. Court Place Advisors LLC’s holdings in Sandy Spring Bancorp were worth $285,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bryn Mawr Capital Management LLC acquired a new position in shares of Sandy Spring Bancorp during the 3rd quarter worth approximately $209,000. Wellington Management Group LLP increased its holdings in shares of Sandy Spring Bancorp by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 269,547 shares of the bank’s stock worth $5,776,000 after acquiring an additional 92,175 shares during the last quarter. Teton Advisors Inc. increased its holdings in shares of Sandy Spring Bancorp by 1.5% during the 3rd quarter. Teton Advisors Inc. now owns 34,000 shares of the bank’s stock worth $729,000 after acquiring an additional 500 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Sandy Spring Bancorp by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,432,995 shares of the bank’s stock worth $30,709,000 after acquiring an additional 65,841 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sandy Spring Bancorp by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 540,254 shares of the bank’s stock worth $11,578,000 after acquiring an additional 48,165 shares during the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.

Sandy Spring Bancorp Stock Performance

NASDAQ SASR traded down $0.13 on Wednesday, reaching $19.81. The stock had a trading volume of 198,385 shares, compared to its average volume of 301,540. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a fifty day moving average of $21.79 and a two-hundred day moving average of $22.92. Sandy Spring Bancorp, Inc. has a 1-year low of $19.27 and a 1-year high of $27.90. The company has a market cap of $891.45 million, a P/E ratio of 7.26 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Tuesday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.09. Sandy Spring Bancorp had a return on equity of 8.66% and a net margin of 17.43%. The company had revenue of $182.18 million for the quarter, compared to analyst estimates of $101.53 million. During the same period in the prior year, the firm posted $0.79 EPS. On average, equities research analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.07 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s payout ratio is currently 49.82%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SASR shares. StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Stephens decreased their price objective on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Finally, Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective on the stock. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.00.

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.