Tritonpoint Wealth LLC Acquires 302 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Tritonpoint Wealth LLC boosted its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,119 shares of the bank’s stock after acquiring an additional 302 shares during the period. Tritonpoint Wealth LLC’s holdings in Sandy Spring Bancorp were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SASR. Franklin Resources Inc. increased its position in shares of Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after purchasing an additional 615,591 shares during the period. Geode Capital Management LLC grew its stake in Sandy Spring Bancorp by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock worth $33,654,000 after buying an additional 35,271 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Sandy Spring Bancorp by 13.4% in the 3rd quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank’s stock valued at $32,161,000 after purchasing an additional 120,793 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Sandy Spring Bancorp by 17.4% during the 3rd quarter. Wellington Management Group LLP now owns 819,475 shares of the bank’s stock valued at $25,707,000 after acquiring an additional 121,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after purchasing an additional 75,596 shares during the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sandy Spring Bancorp Stock Performance

Shares of SASR opened at $33.83 on Monday. 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 firm has a market cap of $1.53 billion, a PE ratio of 75.18 and a beta of 0.98. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55. The stock’s fifty day moving average price is $34.73 and its two-hundred day moving average price is $32.96.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. On average, equities research 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 announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.02%. The ex-dividend date is Wednesday, February 12th. Sandy Spring Bancorp’s payout ratio is 302.22%.

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.