Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,466 shares of the bank’s stock after selling 794 shares during the quarter. California State Teachers Retirement System owned 0.12% of Sandy Spring Bancorp worth $1,441,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $644,000. Beacon Investment Advisors LLC acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $228,000. Foundry Partners LLC acquired a new position in shares of Sandy Spring Bancorp in the 1st quarter worth approximately $2,500,000. Artemis Wealth Advisors LLC acquired a new position in shares of Sandy Spring Bancorp in the 1st quarter worth approximately $247,000. Finally, Aigen Investment Management LP acquired a new position in Sandy Spring Bancorp during the 4th quarter valued at approximately $560,000. Institutional investors and hedge funds own 68.57% of the company’s stock.

Insider Buying and Selling at Sandy Spring Bancorp

In other Sandy Spring Bancorp news, Director Craig A. Ruppert bought 12,200 shares of the business’s stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $24.86 per share, with a total value of $303,292.00. Following the purchase, the director now directly owns 101,988 shares of the company’s stock, valued at $2,535,421.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Sandy Spring Bancorp Trading Down 0.7 %

NASDAQ:SASR opened at $22.46 on Thursday. The business has a 50 day simple moving average of $23.47 and a 200 day simple moving average of $24.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $1.01 billion, a P/E ratio of 7.02 and a beta of 0.93. Sandy Spring Bancorp, Inc. has a 12-month low of $19.47 and a 12-month high of $40.10.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Tuesday, July 25th. The bank reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.09). The business had revenue of $175.33 million for the quarter, compared to the consensus estimate of $110.41 million. Sandy Spring Bancorp had a net margin of 22.10% and a return on equity of 9.87%. During the same period in the previous year, the firm earned $0.95 EPS. Equities research analysts predict that Sandy Spring Bancorp, Inc. will post 2.89 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.06%. The ex-dividend date was Tuesday, August 8th. Sandy Spring Bancorp’s payout ratio is currently 42.50%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.00.

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 Central Maryland, Northern Virginia, and Washington, DC It operates in two segments, Community Banking and Investment Management.