Evermay Wealth Management LLC Boosts Stock Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Evermay Wealth Management LLC raised its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1,296.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,572 shares of the bank’s stock after acquiring an additional 11,672 shares during the period. Evermay Wealth Management LLC’s holdings in Sandy Spring Bancorp were worth $424,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. lifted its position in shares of Sandy Spring Bancorp by 198.7% in the second quarter. Sei Investments Co. now owns 63,574 shares of the bank’s stock worth $1,549,000 after buying an additional 42,290 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Sandy Spring Bancorp by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,438 shares of the bank’s stock worth $571,000 after acquiring an additional 1,774 shares during the last quarter. Algert Global LLC raised its holdings in shares of Sandy Spring Bancorp by 368.2% during the 2nd quarter. Algert Global LLC now owns 64,419 shares of the bank’s stock worth $1,569,000 after acquiring an additional 50,659 shares in the last quarter. Creative Planning boosted its position in shares of Sandy Spring Bancorp by 4.8% during the 2nd quarter. Creative Planning now owns 59,184 shares of the bank’s stock valued at $1,442,000 after acquiring an additional 2,701 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Sandy Spring Bancorp by 2.6% in the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after purchasing an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Price Performance

NASDAQ:SASR opened at $33.83 on Friday. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 75.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $34.73 and a 200-day simple moving average of $32.92. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. Equities analysts forecast that Sandy Spring Bancorp, Inc. will post 2.51 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Wednesday, February 12th. Sandy Spring Bancorp’s payout ratio is currently 302.23%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 27th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.25.

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 the United States. It offers financial products and services, including various loan and deposit products.