Sandy Spring Bancorp Inc. (NASDAQ:SASR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,748,624 shares of the bank’s stock after selling 4,184 shares during the quarter. Vanguard Group Inc. owned 4.91% of Sandy Spring Bancorp worth $60,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SASR. Coastal Investment Advisors Inc. grew its stake in Sandy Spring Bancorp by 87.4% in the second quarter. Coastal Investment Advisors Inc. now owns 937 shares of the bank’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Sandy Spring Bancorp by 5.7% in the second quarter. Janney Montgomery Scott LLC now owns 10,574 shares of the bank’s stock valued at $369,000 after purchasing an additional 570 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sandy Spring Bancorp by 60.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,062 shares of the bank’s stock valued at $107,000 after purchasing an additional 1,153 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Sandy Spring Bancorp in the second quarter valued at about $44,000. Finally, Lafayette Investments Inc. grew its stake in Sandy Spring Bancorp by 1.4% in the second quarter. Lafayette Investments Inc. now owns 109,642 shares of the bank’s stock valued at $3,824,000 after purchasing an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

A number of research analysts have commented on SASR shares. Boenning Scattergood started coverage on Sandy Spring Bancorp in a research note on Monday, June 24th. They issued a “buy” rating and a $37.25 target price on the stock. Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, September 26th. Zacks Investment Research upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, October 2nd. Finally, BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $38.45.

Shares of NASDAQ:SASR opened at $33.22 on Friday. Sandy Spring Bancorp Inc. has a fifty-two week low of $29.83 and a fifty-two week high of $39.92. The business has a 50-day moving average of $34.03 and a two-hundred day moving average of $33.99. The stock has a market capitalization of $1.17 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.02 and a quick ratio of 1.01.

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

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.

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

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