Creative Planning held its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,604 shares of the bank’s stock at the end of the second quarter. Creative Planning’s holdings in Sandy Spring Bancorp were worth $350,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $177,000. 361 Capital LLC purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $205,000. Stratos Wealth Partners LTD. raised its stake in shares of Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock valued at $251,000 after buying an additional 301 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $267,000. Finally, Invictus RG purchased a new stake in shares of Sandy Spring Bancorp during the first quarter valued at $289,000. 67.73% of the stock is owned by hedge funds and other institutional investors.
Sandy Spring Bancorp, Inc. (NASDAQ:SASR) traded down 0.05% during trading on Friday, hitting $37.85. The stock had a trading volume of 68,834 shares. The stock has a 50-day moving average price of $39.67 and a 200-day moving average price of $40.90. Sandy Spring Bancorp, Inc. has a 52 week low of $27.86 and a 52 week high of $45.64. The company has a market cap of $907.91 million, a PE ratio of 16.20 and a beta of 1.02.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. The firm had revenue of $55.90 million during the quarter, compared to analyst estimates of $55.53 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. Equities analysts predict that Sandy Spring Bancorp, Inc. will post $2.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, August 7th. Sandy Spring Bancorp’s payout ratio is 44.26%.
TRADEMARK VIOLATION NOTICE: This article was originally posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/19/creative-planning-continues-to-hold-stake-in-sandy-spring-bancorp-inc-sasr-updated-updated.html.
Several brokerages recently weighed in on SASR. Zacks Investment Research lowered Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 target price on shares of Sandy Spring Bancorp in a report on Friday, April 21st. Finally, ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
Receive News & Ratings for Sandy Spring Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.