Court Place Advisors LLC Trims Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Court Place Advisors LLC lowered its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 18.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,776 shares of the bank’s stock after selling 1,999 shares during the period. Court Place Advisors LLC’s holdings in Sandy Spring Bancorp were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Sandy Spring Bancorp by 96.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after acquiring an additional 34,735 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after purchasing an additional 75,596 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Sandy Spring Bancorp by 5.7% during the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock worth $11,528,000 after purchasing an additional 25,546 shares during the period. Geode Capital Management LLC grew its position in Sandy Spring Bancorp by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after buying an additional 35,271 shares during the last quarter. Finally, Algert Global LLC increased its stake in Sandy Spring Bancorp by 368.2% in the 2nd quarter. Algert Global LLC now owns 64,419 shares of the bank’s stock valued at $1,569,000 after buying an additional 50,659 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research note 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 given a hold rating to the company. Based on data from MarketBeat.com, Sandy Spring Bancorp has an average rating of “Hold” and a consensus target price of $28.25.

Sandy Spring Bancorp Trading Up 3.0 %

Shares of SASR stock opened at $33.73 on Tuesday. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55. 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 business’s fifty day moving average price is $35.02 and its 200 day moving average price is $32.81. The firm has a market capitalization of $1.52 billion, a PE ratio of 17.75 and a beta of 0.98.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.34 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.03%. Sandy Spring Bancorp’s dividend payout ratio is presently 71.58%.

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.