BNP Paribas Arbitrage SA lowered its stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 47.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,558 shares of the bank’s stock after selling 6,709 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Sandy Spring Bancorp were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in Sandy Spring Bancorp by 6.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,974,299 shares of the bank’s stock worth $76,524,000 after purchasing an additional 121,946 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in Sandy Spring Bancorp in the 1st quarter worth about $4,139,000. New York State Common Retirement Fund increased its stake in Sandy Spring Bancorp by 89.9% in the 1st quarter. New York State Common Retirement Fund now owns 50,139 shares of the bank’s stock worth $1,943,000 after purchasing an additional 23,739 shares in the last quarter. Brinker Capital Inc. increased its stake in Sandy Spring Bancorp by 65.7% in the 1st quarter. Brinker Capital Inc. now owns 11,959 shares of the bank’s stock worth $464,000 after purchasing an additional 4,740 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Sandy Spring Bancorp by 19.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 7,861 shares of the bank’s stock worth $305,000 after purchasing an additional 1,270 shares in the last quarter. 66.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on SASR. Sandler O’Neill raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 25th. Keefe, Bruyette & Woods raised Sandy Spring Bancorp from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a research note on Tuesday, April 24th. ValuEngine raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. Finally, BidaskClub cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.20.
Sandy Spring Bancorp opened at $41.01 on Monday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.07 and a current ratio of 1.08. Sandy Spring Bancorp Inc. has a fifty-two week low of $36.41 and a fifty-two week high of $43.87. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86.
Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, April 19th. The bank reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Sandy Spring Bancorp had a return on equity of 10.94% and a net margin of 21.34%. The company had revenue of $81.03 million for the quarter, compared to analysts’ expectations of $78.10 million. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was up 48.2% on a year-over-year basis. equities analysts forecast that Sandy Spring Bancorp Inc. will post 3.33 earnings per share for the current fiscal year.
In other Sandy Spring Bancorp news, Director Shaza L. Andersen sold 10,000 shares of Sandy Spring Bancorp stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $43.37, for a total transaction of $433,700.00. Following the transaction, the director now owns 53,590 shares of the company’s stock, valued at approximately $2,324,198.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark C. Michael sold 1,000 shares of Sandy Spring Bancorp stock in a transaction dated Wednesday, April 25th. The shares were sold at an average price of $41.00, for a total value of $41,000.00. Following the sale, the director now owns 99,590 shares of the company’s stock, valued at $4,083,190. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,863 shares of company stock worth $3,890,086. Company insiders own 3.31% of the company’s stock.
About Sandy Spring Bancorp
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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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