Quantedge Capital Pte Ltd Acquires New Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Quantedge Capital Pte Ltd acquired a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the 4th quarter, Holdings Channel reports. The fund acquired 18,700 shares of the bank’s stock, valued at approximately $630,000.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC raised its stake in shares of Sandy Spring Bancorp by 1.8% in the 4th quarter. LPL Financial LLC now owns 16,987 shares of the bank’s stock valued at $573,000 after acquiring an additional 297 shares during the period. Tritonpoint Wealth LLC boosted its holdings in shares of Sandy Spring Bancorp by 1.5% in the 4th quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock valued at $678,000 after buying an additional 302 shares during the period. Cerity Partners LLC boosted its holdings in shares of Sandy Spring Bancorp by 1.4% in the 4th quarter. Cerity Partners LLC now owns 26,583 shares of the bank’s stock valued at $895,000 after buying an additional 374 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sandy Spring Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,986 shares of the bank’s stock valued at $842,000 after buying an additional 874 shares during the period. Finally, Vestcor Inc acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Sunday. They issued a “sell” rating on the stock.

Sandy Spring Bancorp Stock Up 1.0%

SASR stock opened at $27.87 on Thursday. Sandy Spring Bancorp, Inc. has a 52 week low of $21.37 and a 52 week high of $39.55. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96. The firm’s 50-day moving average is $28.18 and its two-hundred day moving average is $32.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.