Evermay Wealth Management LLC Has $170,000 Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Evermay Wealth Management LLC boosted its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 263.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,239 shares of the bank’s stock after acquiring an additional 4,524 shares during the period. Evermay Wealth Management LLC’s holdings in Sandy Spring Bancorp were worth $170,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. North Reef Capital Management LP acquired a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at approximately $9,319,000. AQR Capital Management LLC boosted its position in shares of Sandy Spring Bancorp by 408.6% during the third quarter. AQR Capital Management LLC now owns 405,821 shares of the bank’s stock worth $8,697,000 after purchasing an additional 326,036 shares in the last quarter. Norges Bank acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at $8,423,000. Wellington Management Group LLP increased its position in shares of Sandy Spring Bancorp by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 269,547 shares of the bank’s stock valued at $5,776,000 after buying an additional 92,175 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in Sandy Spring Bancorp by 62.9% during the 3rd quarter. Foundry Partners LLC now owns 226,813 shares of the bank’s stock worth $4,861,000 after buying an additional 87,576 shares during the period. Institutional investors own 66.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Stephens restated an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Finally, Janney Montgomery Scott assumed coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target for the company. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.50.

Sandy Spring Bancorp Stock Down 0.7 %

Shares of NASDAQ:SASR traded down $0.16 during mid-day trading on Monday, reaching $23.16. 208,200 shares of the stock were exchanged, compared to its average volume of 292,681. The stock’s 50 day simple moving average is $21.89 and its 200-day simple moving average is $23.22. Sandy Spring Bancorp, Inc. has a one year low of $19.27 and a one year high of $27.90. The company has a market cap of $1.04 billion, a P/E ratio of 11.35 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. During the same period last year, the business earned $1.16 EPS. As a group, equities research analysts predict that Sandy Spring Bancorp, Inc. will post 1.95 EPS for the current year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were paid a $0.34 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.36 annualized dividend and a yield of 5.87%. Sandy Spring Bancorp’s payout ratio is currently 66.67%.

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.