The most recent 13F filing that Kestra Advisory Services LLC submitted to the Securities and Exchange Commission revealed that during the third quarter of this year, the company increased its position in Sandy Spring Bancorp, Inc. (NASDAQ: SASR). The fund’s total holdings consisted of 188,519 shares after purchasing an additional 9,403 shares of the bank’s stock over the time frame in question. According to the most recent filing that Kestra Advisory Services LLC made with the SEC, the company owned approximately 0.42% of Sandy Spring Bancorp, with a value of $6,647,000.
Over the past few years, several other notable investors have cut back on the amount of stock they own in the company. During the second quarter, Price T. Rowe Associates Inc. (MD) raised the amount of Sandy Spring Bancorp stock that it owned to a percentage that was 0.7% higher than before. Price T. Rowe Associates Inc. (MD) now has 2,986,559 shares. These shares are estimated to have a value of $116,685,000 and were acquired by the company by purchasing an additional 22,123 shares during the most recent quarter. During the first three months of the year, Vanguard Group Inc. increased the percentage of Sandy Spring Bancorp shares it owned by 10.5%. The most recent quarter saw the acquisition of an additional 261,172 shares of the bank’s stock by Vanguard Group Inc. This brings the total number of shares directly owned by the company to 2,741,687, with a value of $123,156,000. The percentage of Sandy Spring Bancorp stock that State Street Corporation owned went up by 1.0% during the first quarter due to the company’s investment. State Street Corp. now holds 1,518,925 shares of the bank’s stock following purchasing an additional 15,651 shares during the most recent quarter. The stock currently has an estimated market value of $68,230,000. The Massachusetts Financial Services Co., MA, increased the amount of Sandy Spring Bancorp stock owned by 2.6% during the second quarter of the fiscal year. The Massachusetts Financial Services Co., MA, now owns 791,787 shares of the bank’s stock, which has a market value of $30,935,000 thanks to the purchase of an additional 20,162 shares during the most recent quarter. Last but certainly not least, Victory Capital Management Inc. increased the percentage of Sandy Spring Bancorp in which it is invested by 14.6% during the second quarter. This is certainly not the least of Victory Capital Management Inc.’s accomplishments. After purchasing an additional 85,608 shares of the bank’s stock during the most recent quarter, Victory Capital Management Inc. now owns a total of 670,598 shares of the company’s stock, which has a value of $26,200,000. These shares were acquired due to the company’s participation in a share buyback program. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 64.95 percent of the total.
Recently, several equity analysts have published research articles based on investigations that they have carried out on the company. Piper Sandler reaffirmed a “neutral” rating on shares of Sandy Spring Bancorp in a research report published on Monday, December 5. The firm also set a target price of $39.00 for the company’s stock at the time of the report’s publication. Sandy Spring Bancorp was included in the research coverage provided by StockNews.com on October 12, which took place on the previous Wednesday. In a research note published on October 27 and 27, DA Davidson announced that they would be lowering their target price for Sandy Spring Bancorp to $39.00. They also recommended that investors “hold” the company’s stock.
On Wednesday, the opening price for trading on the NASDAQ SASR was $34.97. The stock’s price has recently reached $34.78; based on its 50-day and 200-day moving averages, the price has reached $37.07. There is a debt-to-current ratio of 0.83, while the debt-to-equity ratio, the current ratio, and the quick ratio are all at 1.03. Over the previous year, the price of a share of stock in Sandy Spring Bancorp, Inc. ranged from a low of $32.33 to a high of $51.78y and 200-day moving averages, respectively, the price has reached $37.07. There is a debt-to-current ratio of 0.83, while the debt-to-equity ratio, the current ratio, and the quick ratio are all at 1.03. Over the previous year, the price of a share of stock in Sandy Spring Bancorp, Inc. ranged from a low of $32.33 to a high of $51.78. The company’s market capitalization is currently valued at $1.56 billion, while its earnings-to-price ratio stands at 8.94, and its beta coefficient sits at 0.93.
On October 20 October 20, the most recent quarterly earnings report for Sandy Spring Bancorp, which is traded on the NASDAQ under the symbol SASR, was made public. The financial institution reported earnings of $0.75 per share for the quarter, which came in significantly lower than the consensus estimate of $1.02 per share, which was a difference of $0.27. The return on equity for Sandy Spring Bancorp was calculated to be 11.42%, while the company’s net margin was calculated to be 31.98%. The amount in question was $129.84 million in revenue brought in by the company during the relevant period. It is anticipated by professionals in the financial sector that Sandy Spring Bancorp, Inc. will generate earnings of $3.62 per share during the current fiscal year.
In addition, the business just recently announced and paid a quarterly dividend, which was paid out on November 16 and 16. This dividend was just recently declared and distributed. On Wednesday, November 9 November 9, dividend payments to stockholders whose information was already on file were sent out. The dividend payment was $0.34 per share. On November 8 November 8, a Tuesday, the dividend was disbursed to shareholders. This event took place. This results in a yield of 3.89 percent as well as an annual dividend payment of 1.36 dollars. This brings Sandy Spring Bancorp’s dividend payout ratio (DPR) up to 34.78%.
Sandy Spring Bank is the financial institution’s name, while Sandy Spring Bancorp, Inc. is the name of the bank’s holding company and parent company. Individuals and commercial enterprises can take advantage of the trust, mortgage, and private banking services offered by Sandy Spring Bank. Investment management, community banking, and insurance are the business divisions it operates under to conduct its daily operations. The market for community banking offers a diverse selection of financial services and products, including loans and deposits, to name just two examples of this broad range.