First Trust Advisors LP increased its position in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 23,636 shares of the company’s stock after buying an additional 334 shares during the period. First Trust Advisors LP owned about 0.10% of Sandy Spring Bancorp worth $687,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its position in Sandy Spring Bancorp by 0.6% in the second quarter. Commonwealth Equity Services Inc now owns 8,115 shares of the company’s stock worth $236,000 after buying an additional 47 shares in the last quarter. M&T Bank Corp raised its position in Sandy Spring Bancorp by 7.5% in the second quarter. M&T Bank Corp now owns 16,763 shares of the company’s stock worth $488,000 after buying an additional 1,165 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Sandy Spring Bancorp during the second quarter worth approximately $189,000. Bank of New York Mellon Corp raised its position in Sandy Spring Bancorp by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 139,582 shares of the company’s stock worth $4,056,000 after buying an additional 1,295 shares in the last quarter. Finally, Strs Ohio raised its position in Sandy Spring Bancorp by 4.3% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock worth $772,000 after buying an additional 1,100 shares in the last quarter. 65.61% of the stock is currently owned by institutional investors.
Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) traded up 1.31% during trading on Monday, reaching $30.93. The company’s stock had a trading volume of 5,178 shares. The stock has a market cap of $738.52 million, a price-to-earnings ratio of 16.62 and a beta of 0.94. Sandy Spring Bancorp Inc. has a 52-week low of $24.17 and a 52-week high of $31.70. The stock’s 50 day moving average price is $30.78 and its 200-day moving average price is $29.30.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.01. Sandy Spring Bancorp had a net margin of 20.99% and a return on equity of 9.16%. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities analysts anticipate that Sandy Spring Bancorp Inc. will post $1.86 EPS for the current year.
Separately, Zacks Investment Research lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, June 23rd.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking, Insurance and Investment Management. Its Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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