Qube Research & Technologies Ltd buys 5,725 shares of Sandy Spring Bancorp, Inc. (NASDAQ: SASR)


Qube Research & Technologies Ltd removed its position in Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating) by 15.6% in the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission (SEC). The institutional investor held 42,463 shares of the bank after acquiring an additional 5,725 shares during the quarter. Qube Research & Technologies Ltd held 0.09% of Sandy Spring Bancorp worth $1,907,000 when it last filed with the SEC.

Several other institutional investors and hedge funds have also recently changed their positions in the company. HCR Wealth Advisors bought a new position in Sandy Spring Bancorp in the first quarter worth around $330,000. Victory Capital Management Inc. increased its stake in Sandy Spring Bancorp by 12.9% in the first quarter. Victory Capital Management Inc. now owns 584,990 shares of the bank worth $25,945,000 after purchasing an additional 67,013 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Sandy Spring Bancorp by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 24,749 shares of the bank worth $1,112,000 after buying 608 more shares last quarter. Trillium Asset Management LLC increased its holdings in Sandy Spring Bancorp by 1.4% in the first quarter. Trillium Asset Management LLC now owns 58,745 shares of the bank worth $2,639,000 after purchasing an additional 800 shares last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Sandy Spring Bancorp in the first quarter worth about $402,000. 66.43% of the shares are currently held by institutional investors.

Wall Street analysts predict growth

A number of equity analysts have commented on SASR shares. Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an “outperforming” rating to a “market performance” rating and reduced their target price for the stock from $53.00 to $50.00 in a report on Friday, April 22. DA Davidson reaffirmed a “buy” rating on Sandy Spring Bancorp shares in a Wednesday, July 27 report.

Sandy Spring Bancorp Stock Performance

SASR opened at $41.56 on Friday. Sandy Spring Bancorp, Inc. has a 52-week low of $36.84 and a 52-week high of $52.04. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt ratio of 0.37. The company has a market capitalization of $1.86 billion, a P/E ratio of 9.53 and a beta of 1.01. The company’s 50-day moving average price is $39.81 and its 200-day moving average price is $42.42.

Sandy Spring Bankcorp (NASDAQ: SASRGet a rating) last released its quarterly earnings data on Thursday, July 21. The bank reported earnings per share (EPS) of $0.93 for the quarter, missing the consensus estimate of $0.95 per ($0.02). Sandy Spring Bancorp had a net margin of 36.97% and a return on equity of 12.47%. During the same quarter last year, the company posted EPS of $1.16. As a group, stock analysts expect Sandy Spring Bancorp, Inc. to post EPS of 3.96 for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 17. Investors of record on Wednesday August 10 will receive a dividend of $0.34. The ex-date of this dividend is Tuesday, August 9. This represents a dividend of $1.36 on an annualized basis and a yield of 3.27%. Sandy Spring Bancorp’s dividend payout ratio is currently 31.19%.

Sandy Spring Bancorp Company Profile

(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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