Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Joseph S. Bracewell sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $39.09, for a total value of $390,900.00. Following the sale, the director now owns 144,473 shares in the company, valued at approximately $5,647,449.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) opened at $38.54 on Wednesday. The company has a market capitalization of $924.71, a P/E ratio of 17.52, a P/E/G ratio of 1.01 and a beta of 0.93. Sandy Spring Bancorp Inc. has a 52-week low of $36.41 and a 52-week high of $45.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. Sandy Spring Bancorp had a return on equity of 10.91% and a net margin of 21.63%. Sandy Spring Bancorp’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. equities analysts expect that Sandy Spring Bancorp Inc. will post 3.05 EPS for the current year.
A number of brokerages have recently weighed in on SASR. Zacks Investment Research lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. BidaskClub lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. Gabelli began coverage on Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Sandler O’Neill set a $44.00 price target on Sandy Spring Bancorp and gave the stock a “hold” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $44.75.
A number of hedge funds and other institutional investors have recently modified their holdings of SASR. UBS Asset Management Americas Inc. purchased a new stake in Sandy Spring Bancorp in the second quarter valued at approximately $268,000. Vanguard Group Inc. boosted its position in Sandy Spring Bancorp by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after buying an additional 10,359 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Sandy Spring Bancorp by 46.1% in the second quarter. Parametric Portfolio Associates LLC now owns 66,478 shares of the bank’s stock valued at $2,703,000 after buying an additional 20,961 shares during the last quarter. Voya Investment Management LLC boosted its position in Sandy Spring Bancorp by 5.8% in the second quarter. Voya Investment Management LLC now owns 14,980 shares of the bank’s stock valued at $609,000 after buying an additional 821 shares during the last quarter. Finally, State Street Corp boosted its position in Sandy Spring Bancorp by 16.9% in the second quarter. State Street Corp now owns 523,549 shares of the bank’s stock valued at $21,287,000 after buying an additional 75,500 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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