Commonwealth Equity Services LLC holds a $2.33 million position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)


Commonwealth Equity Services LLC reduced its stake in the shares of Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating) by 3.5% in Q1, according to its most recent 13F filing with the Securities and Exchange Commission. The company held 51,804 shares of the bank after selling 1,874 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.11% of Sandy Spring Bancorp worth $2,327,000 at the end of the most recent reporting period.

Several other institutional investors have also recently changed their stock holdings. Westwood Holdings Group Inc. increased its position in shares of Sandy Spring Bancorp by 20.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,383,088 shares of the bank worth $66,499,000 after purchasing an additional 236,765 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Sandy Spring Bancorp by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 756,403 shares of the bank worth $36,368,000 after buying 30,872 additional shares last quarter. Victory Capital Management Inc. increased its stake in Sandy Spring Bancorp by 3,707.8% in the 4th quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank valued at $24,905,000 after acquiring an additional 504,374 shares during the period. JPMorgan Chase & Co. increased its stake in Sandy Spring Bancorp by 14.4% in the 4th quarter. JPMorgan Chase & Co. now owns 226,112 shares of the bank valued at $10,872,000 after acquiring an additional 28,451 shares during the period. Finally, Congress Asset Management Co. MA increased its stake in Sandy Spring Bancorp by 5.7% in the 1st quarter. Congress Asset Management Co. MA now owns 172,535 shares of the bank valued at $7,750,000 after acquiring an additional 9,247 shares during the period. 66.43% of the shares are currently held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

A number of research companies have weighed in on SASR recently. DA Davidson reaffirmed a “buy” rating on Sandy Spring Bancorp shares in a Wednesday, July 27 research note. Keefe, Bruyette & Woods downgraded Sandy Spring Bancorp from an “outperforming” rating to a “market performing” rating and lowered their price target for the company from $53.00 to $50.00 in a research note from Friday, April 22.

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ SASR opened at $39.80 on Wednesday. The company has a debt ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty-day moving average price is $39.89 and its two-hundred-day moving average price is $42.57. Sandy Spring Bancorp, Inc. has a one-year low of $36.84 and a one-year high of $52.04. The company has a market capitalization of $1.80 billion, a price-earnings ratio of 9.13 and a beta of 1.01.

Sandy Spring Bankcorp (NASDAQ: SASRGet a rating) last released its quarterly earnings data on Thursday, July 21. The bank reported EPS of $0.93 for the quarter, missing analyst consensus estimates of $0.95 per ($0.02). Sandy Spring Bancorp had a net margin of 36.97% and a return on equity of 12.38%. During the same period last year, the company made earnings per share of $1.16. On average, stock analysts expect Sandy Spring Bancorp, Inc. to post EPS of 3.96 for the current year.

Sandy Spring Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Shareholders of record on Wednesday, August 10 will receive a dividend of $0.34. This represents a dividend of $1.36 on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, August 9. Sandy Spring Bancorp’s dividend payout ratio is 31.19%.

About Sandy Spring Bancorp

(Get a rating)

Sandy Spring Bancorp, Inc operates as a bank holding company for Sandy Spring Bank which provides commercial and retail banking, mortgage, private banking and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.

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Institutional ownership by quarter for Sandy Spring Bancorp (NASDAQ:SASR)



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