The Swiss National Bank increases its equity position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)


The Swiss National Bank increased its stake in Sandy Spring Bancorp, Inc. (NASDAQ: SASRGet a rating) by 3.3% in Q1, according to the company in its latest SEC filing. The institutional investor held 107,835 shares of the bank after acquiring an additional 3,400 shares during the quarter. The Swiss National Bank held approximately 0.24% of Sandy Spring Bancorp worth $4,844,000 at the end of the last reporting period.

Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in Sandy Spring Bancorp by 3.9% in Q1. Teacher Retirement System of Texas now owns 9,427 shares of the bank worth $423,000 after acquiring 353 additional shares in the last quarter. Qube Research & Technologies Ltd increased its holdings of Sandy Spring Bancorp shares by 15.6% in the first quarter. Qube Research & Technologies Ltd now owns 42,463 shares in the bank worth $1,907,000 after buying an additional 5,725 shares last quarter. Prosperity Consulting Group LLC purchased a new equity stake in Sandy Spring Bancorp during the fourth quarter for $212,000. Gamco Investors Inc. ET AL increased its holdings of Sandy Spring Bancorp shares by 4.0% during the fourth quarter. Gamco Investors Inc. ET AL now owns 128,822 shares of the bank worth $6,194,000 after purchasing an additional 4,936 shares in the last quarter. Finally, HCR Wealth Advisors purchased a new equity stake in Sandy Spring Bancorp during the first quarter at a value of $330,000. Hedge funds and other institutional investors hold 66.43% of the company’s shares.

Sandy Spring Bancorp Price Performance

Sandy Spring Bancorp Stock opened at $39.96 on Thursday. Sandy Spring Bancorp, Inc. has a 52-week low of $36.84 and a 52-week high of $52.04. The company has a market capitalization of $1.78 billion, a price-earnings ratio of 9.17 and a beta of 1.01. The company has a fifty-day simple moving average of $39.97 and a 200-day simple moving average of $42.12. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt ratio of 0.37.

Sandy Spring Bankcorp (NASDAQ: SASRGet a rating) last announced its quarterly results on Thursday, July 21. The bank reported earnings per share 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. On average, 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 declared a quarterly dividend, which was paid on Wednesday, August 17. Shareholders of record on Wednesday August 10 received a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 9. This represents an annualized dividend of $1.36 and a dividend yield of 3.40%. Sandy Spring Bancorp’s payout ratio is 31.19%.

Analyst upgrades and downgrades

Separately, DA Davidson reaffirmed a “buy” rating on Sandy Spring Bancorp shares in a Wednesday, July 27 report.

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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