Systematic Financial Management LP Has $32.16 Million Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Systematic Financial Management LP raised its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 13.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,025,227 shares of the bank’s stock after buying an additional 120,793 shares during the period. Systematic Financial Management LP’s holdings in Sandy Spring Bancorp were worth $32,161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock worth $135,000 after buying an additional 2,073 shares during the period. Sapient Capital LLC bought a new position in Sandy Spring Bancorp during the second quarter worth about $205,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sandy Spring Bancorp by 2.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after acquiring an additional 723 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Sandy Spring Bancorp by 69.1% during the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after acquiring an additional 60,850 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Sandy Spring Bancorp by 36.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 21,050 shares of the bank’s stock valued at $513,000 after buying an additional 5,600 shares in the last quarter. 66.90% of the stock is currently owned by institutional investors.

Sandy Spring Bancorp Stock Up 0.4 %

Sandy Spring Bancorp stock opened at $37.91 on Thursday. The firm has a 50 day moving average price of $34.42 and a 200-day moving average price of $29.80. The company has a market capitalization of $1.71 billion, a P/E ratio of 19.95 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a twelve month low of $19.52 and a twelve month high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The company had revenue of $189.81 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.62 EPS. As a group, equities analysts predict that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.59%. Sandy Spring Bancorp’s payout ratio is 71.58%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a research report on Monday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Sandy Spring Bancorp 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.