Wealth Enhancement Advisory Services LLC Acquires 723 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,456 shares of the bank’s stock after acquiring an additional 723 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Sandy Spring Bancorp worth $620,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Truist Financial Corp grew its stake in Sandy Spring Bancorp by 2.7% during the fourth quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock valued at $1,050,000 after acquiring an additional 1,026 shares in the last quarter. Inspire Investing LLC grew its position in shares of Sandy Spring Bancorp by 8.2% during the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock valued at $402,000 after purchasing an additional 1,316 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Sandy Spring Bancorp by 7.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,104 shares of the bank’s stock worth $548,000 after purchasing an additional 1,327 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Sandy Spring Bancorp by 3.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 50,876 shares of the bank’s stock worth $1,386,000 after buying an additional 1,578 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Sandy Spring Bancorp by 40.6% during the fourth quarter. Quadrant Capital Group LLC now owns 5,521 shares of the bank’s stock valued at $150,000 after buying an additional 1,595 shares during the period. 66.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SASR. Keefe, Bruyette & Woods upped their target price on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. DA Davidson raised their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.00.

Sandy Spring Bancorp Price Performance

Shares of Sandy Spring Bancorp stock opened at $29.47 on Friday. The firm has a market capitalization of $1.33 billion, a PE ratio of 14.45 and a beta of 0.96. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. Sandy Spring Bancorp, Inc. has a 12 month low of $19.27 and a 12 month high of $31.83. The business’s 50-day moving average price is $26.82 and its 200-day moving average price is $23.74.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same period last year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Sandy Spring Bancorp, Inc. will post 1.93 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is presently 66.67%.

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.