Victory Capital Management Inc. Boosts Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Victory Capital Management Inc. increased its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,603 shares of the bank’s stock after purchasing an additional 644 shares during the quarter. Victory Capital Management Inc.’s holdings in Sandy Spring Bancorp were worth $623,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Berman Capital Advisors LLC raised its holdings in Sandy Spring Bancorp by 100.0% during the second quarter. Berman Capital Advisors LLC now owns 1,448 shares of the bank’s stock worth $63,000 after purchasing an additional 724 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Sandy Spring Bancorp in the second quarter worth $101,000. Cornerstone Investment Partners LLC acquired a new position in shares of Sandy Spring Bancorp in the third quarter worth $243,000. Teacher Retirement System of Texas raised its holdings in shares of Sandy Spring Bancorp by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 5,914 shares of the bank’s stock worth $261,000 after acquiring an additional 875 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Sandy Spring Bancorp in the second quarter worth $273,000. 65.18% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kenneth C. Cook sold 2,531 shares of the stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $50.44, for a total transaction of $127,663.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth C. Cook sold 13,500 shares of the stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $48.27, for a total value of $651,645.00. The disclosure for this sale can be found here. 3.05% of the stock is currently owned by corporate insiders.

Separately, Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, January 4th.

Shares of NASDAQ SASR opened at $51.62 on Friday. The stock’s 50 day moving average price is $49.12 and its two-hundred day moving average price is $45.95. Sandy Spring Bancorp, Inc. has a 52-week low of $32.70 and a 52-week high of $52.04. The stock has a market capitalization of $2.35 billion, a P/E ratio of 10.00 and a beta of 1.07. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Wednesday, October 20th. The bank reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $131.96 million. Sandy Spring Bancorp had a return on equity of 13.94% and a net margin of 43.70%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, analysts anticipate that Sandy Spring Bancorp, Inc. will post 4.55 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 17th. Stockholders of record on Wednesday, November 10th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, November 9th. Sandy Spring Bancorp’s payout ratio is 24.81%.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.

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Institutional Ownership by Quarter for Sandy Spring Bancorp (NASDAQ:SASR)

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