Sandy Spring Bancorp, Inc. (NASDAQ:SASR) shares sold by Chevy Chase Trust Holdings Inc.


Chevy Chase Trust Holdings Inc. reduced its stake in Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating) by 1.6% in the first quarter, according to its latest 13F filing with the Securities & Exchange Commission. The institutional investor held 56,597 shares of the bank after selling 930 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.12% of Sandy Spring Bancorp worth $2,542,000 when it last filed with the Securities & Exchange Commission.

A number of other institutional investors have also been buying and selling stocks recently. Westwood Holdings Group Inc. increased its position in 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 in the last quarter. Victory Capital Management Inc. increased its position in Sandy Spring Bancorp by 3,707.8% during the 4th quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank worth $24,905,000 after purchasing an additional 504,374 shares in the last quarter. JPMorgan Chase & Co. raised its position in Sandy Spring Bancorp by 14.4% in the fourth quarter. JPMorgan Chase & Co. now owns 226,112 shares of the bank worth $10,872,000 after buying 28,451 additional shares in the last quarter. Finally, Congress Asset Management Co. MA increased its position in Sandy Spring Bancorp by 5.7% during the 1st quarter. Congress Asset Management Co. MA now owns 172,535 shares of the bank worth $7,750,000 after buying 9,247 additional shares in the last quarter. 66.43% of the shares are currently held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

SASR has been the subject of several recent research reports. StockNews.com launched a hedge on shares of Sandy Spring Bancorp in a Thursday, March 31 report. They set a “holding” rating for the company. Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an “outperform” rating to a “market performer” rating and reduced their target price for the company from $53.00 to $50.00 in a report from Friday, April 22. Finally, DA Davidson launched a hedge on Sandy Spring Bancorp stock in a Tuesday, March 22 report. They set a “buy” rating and a target price of $61.00 for the company.

Sandy Spring Bancorp Price Performance

NASDAQ: SASR opened at $38.30 on Monday. The company has a 50-day moving average price of $39.81 and a 200-day moving average price of $43.68. Sandy Spring Bancorp, Inc. has a 1-year low of $36.84 and a 1-year high of $52.04. The company has a market capitalization of $1.73 billion, a price-earnings ratio of 8.82 and a beta of 1.02. The company has a debt ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96.

Sandy Spring Bankcorp (NASDAQ: SASRGet a rating) last released its quarterly results on Thursday, April 21. The bank reported earnings per share (EPS) of $0.99 for the quarter, beating consensus analyst estimates of $0.92 by $0.07. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 12.96%. The company posted revenue of $122.05 million for the quarter, compared to $126.05 million expected by analysts. In the same quarter last year, the company achieved EPS of $1.20. Equity research analysts expect Sandy Spring Bancorp, Inc. to post EPS of 3.88 for the current year.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 18. Investors of record on Wednesday, May 11 received a dividend of $0.34. The ex-dividend date was Tuesday, May 10. This represents a dividend of $1.36 on an annualized basis and a yield of 3.55%. Sandy Spring Bancorp’s dividend payout ratio is currently 31.34%.

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.

Further reading

Want to see which other hedge funds hold SASRs? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating).

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



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