BNP Paribas Arbitrage SA lifted its holdings in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 60,008.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,213 shares of the bank’s stock after purchasing an additional 7,201 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Sandy Spring Bancorp were worth $226,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Sandy Spring Bancorp by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 30,643 shares of the bank’s stock valued at $1,205,000 after purchasing an additional 3,583 shares in the last quarter. Teachers Advisors LLC raised its stake in Sandy Spring Bancorp by 2.6% in the third quarter. Teachers Advisors LLC now owns 66,309 shares of the bank’s stock valued at $2,607,000 after purchasing an additional 1,675 shares in the last quarter. Vanguard Group Inc. raised its stake in Sandy Spring Bancorp by 2.7% in the third quarter. Vanguard Group Inc. now owns 1,645,043 shares of the bank’s stock valued at $64,666,000 after purchasing an additional 43,886 shares in the last quarter. Cox Capital Mgt LLC raised its stake in Sandy Spring Bancorp by 7.0% in the fourth quarter. Cox Capital Mgt LLC now owns 37,882 shares of the bank’s stock valued at $1,242,000 after purchasing an additional 2,466 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its stake in Sandy Spring Bancorp by 66.7% in the fourth quarter. Congress Asset Management Co. MA now owns 89,215 shares of the bank’s stock valued at $2,796,000 after purchasing an additional 35,695 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ SASR opened at $33.68 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.04 and a quick ratio of 1.03. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 11.78 and a beta of 0.81. Sandy Spring Bancorp Inc. has a 12 month low of $29.83 and a 12 month high of $43.87.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, April 18th. The bank reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The firm had revenue of $84.96 million during the quarter, compared to the consensus estimate of $79.97 million. Sandy Spring Bancorp had a return on equity of 9.99% and a net margin of 27.54%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, sell-side analysts predict that Sandy Spring Bancorp Inc. will post 3.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.30 per share. This is an increase from Sandy Spring Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, May 7th. This represents a $1.20 annualized dividend and a yield of 3.56%. Sandy Spring Bancorp’s payout ratio is presently 41.96%.
A number of research firms recently commented on SASR. BidaskClub raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Boenning Scattergood set a $37.00 target price on Sandy Spring Bancorp and gave the stock a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Sandy Spring Bancorp currently has an average rating of “Hold” and a consensus price target of $37.75.
In other Sandy Spring Bancorp news, Director Joe Reeder bought 867 shares of the stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $34.57 per share, with a total value of $29,972.19. Following the completion of the purchase, the director now owns 56,852 shares in the company, valued at $1,965,373.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronda M. Mcdowell sold 744 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $35.02, for a total value of $26,054.88. Following the transaction, the executive vice president now directly owns 6,034 shares of the company’s stock, valued at approximately $211,310.68. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.
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Sandy Spring Bancorp Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.
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