Hantz Financial Services Inc. Purchases 11,622 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Hantz Financial Services Inc. lifted its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 269.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,941 shares of the bank’s stock after acquiring an additional 11,622 shares during the quarter. Hantz Financial Services Inc.’s holdings in Sandy Spring Bancorp were worth $500,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SASR. Victory Capital Management Inc. lifted its stake in Sandy Spring Bancorp by 1,199.7% in the second quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock worth $16,927,000 after purchasing an additional 641,402 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. purchased a new position in Sandy Spring Bancorp during the 2nd quarter valued at $4,778,000. Stieven Capital Advisors L.P. bought a new position in Sandy Spring Bancorp in the 3rd quarter valued at $4,906,000. Great Lakes Advisors LLC increased its stake in Sandy Spring Bancorp by 432.5% in the second quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank’s stock worth $4,690,000 after purchasing an additional 156,377 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Sandy Spring Bancorp by 18.5% during the second quarter. American Century Companies Inc. now owns 775,252 shares of the bank’s stock worth $18,885,000 after purchasing an additional 120,996 shares during the last quarter. 66.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Sandy Spring Bancorp in a report on Monday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.25.

Sandy Spring Bancorp Trading Up 0.5 %

Shares of NASDAQ SASR opened at $37.68 on Monday. Sandy Spring Bancorp, Inc. has a twelve month low of $19.52 and a twelve month high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $34.18 and a two-hundred day simple moving average of $29.56. The firm has a market cap of $1.70 billion, a PE ratio of 19.83 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. The firm had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Analysts expect that Sandy Spring Bancorp, Inc. will post 1.85 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.34 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 3.61%. Sandy Spring Bancorp’s payout ratio is presently 71.58%.

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.