Prudential Financial Inc. increased its holdings in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 43.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,468 shares of the bank’s stock after buying an additional 63,063 shares during the quarter. Prudential Financial Inc.’s holdings in Sandy Spring Bancorp were worth $7,272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SASR. Dimensional Fund Advisors LP boosted its stake in shares of Sandy Spring Bancorp by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,520,969 shares of the bank’s stock worth $79,007,000 after acquiring an additional 137,653 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Sandy Spring Bancorp by 60,008.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,213 shares of the bank’s stock worth $226,000 after purchasing an additional 7,201 shares in the last quarter. SG Americas Securities LLC raised its holdings in Sandy Spring Bancorp by 88.3% in the 1st quarter. SG Americas Securities LLC now owns 16,468 shares of the bank’s stock worth $515,000 after purchasing an additional 7,721 shares during the period. Alps Advisors Inc. bought a new position in Sandy Spring Bancorp in the 1st quarter worth $378,000. Finally, Gabelli Funds LLC lifted its position in Sandy Spring Bancorp by 56.3% during the first quarter. Gabelli Funds LLC now owns 39,072 shares of the bank’s stock valued at $1,222,000 after purchasing an additional 14,072 shares in the last quarter. 69.79% of the stock is currently owned by institutional investors.

NASDAQ:SASR traded up $0.23 during trading hours on Wednesday, hitting $34.96. 611 shares of the stock traded hands, compared to its average volume of 89,320. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.75 and a beta of 0.86. Sandy Spring Bancorp Inc. has a 1 year low of $29.83 and a 1 year high of $40.56. The stock has a 50 day moving average price of $34.32 and a 200 day moving average price of $33.88. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.55.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.79. The firm had revenue of $82.74 million during the quarter, compared to analysts’ expectations of $82.39 million. Sandy Spring Bancorp had a net margin of 27.80% and a return on equity of 10.14%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. Equities analysts forecast that Sandy Spring Bancorp Inc. will post 3.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.43%. The ex-dividend date was Tuesday, August 13th. Sandy Spring Bancorp’s dividend payout ratio is currently 41.96%.

Several research firms have issued reports on SASR. Boenning Scattergood began coverage on Sandy Spring Bancorp in a report on Monday, June 24th. They set a “buy” rating and a $37.25 price target for the company. BidaskClub downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, Zacks Investment Research raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $37.85.

Sandy Spring Bancorp Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.

Read More: Earnings Per Share

Want to see what other hedge funds are holding SASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandy Spring Bancorp Inc. (NASDAQ:SASR).

Institutional Ownership by Quarter for Sandy Spring Bancorp (NASDAQ:SASR)

Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.