Wellington Management Group LLP Increases Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wellington Management Group LLP increased its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 17.4% in the third quarter, Holdings Channel.com reports. The firm owned 819,475 shares of the bank’s stock after acquiring an additional 121,574 shares during the period. Wellington Management Group LLP’s holdings in Sandy Spring Bancorp were worth $25,707,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SASR. CWM LLC boosted its stake in shares of Sandy Spring Bancorp by 59.4% in the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after purchasing an additional 2,073 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Sandy Spring Bancorp by 2.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock valued at $620,000 after buying an additional 723 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Sandy Spring Bancorp by 36.2% during the 2nd 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 during the period. Chevy Chase Trust Holdings LLC boosted its position in Sandy Spring Bancorp by 3.5% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 107,195 shares of the bank’s stock valued at $2,611,000 after buying an additional 3,633 shares during the period. 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 %

Shares of NASDAQ SASR opened at $36.62 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The firm has a market capitalization of $1.65 billion, a PE ratio of 19.27 and a beta of 0.96. The firm has a fifty day simple moving average of $35.42 and a two-hundred day simple moving average of $30.47.

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

Sandy Spring Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Tuesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus 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.