Goldman Sachs Group Inc. reduced its position in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 11.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 711,330 shares of the bank’s stock after selling 88,242 shares during the period. Goldman Sachs Group Inc.’s holdings in Sandy Spring Bancorp were worth $27,756,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of SASR. Basswood Capital Management L.L.C. boosted its position in Sandy Spring Bancorp by 252.3% in the 4th quarter. Basswood Capital Management L.L.C. now owns 476,689 shares of the bank’s stock valued at $18,600,000 after buying an additional 341,371 shares during the last quarter. Maltese Capital Management LLC purchased a new position in Sandy Spring Bancorp in the 4th quarter valued at about $3,906,000. BlackRock Inc. boosted its position in Sandy Spring Bancorp by 4.6% in the 4th quarter. BlackRock Inc. now owns 2,156,143 shares of the bank’s stock valued at $84,134,000 after buying an additional 95,615 shares during the last quarter. Geode Capital Management LLC boosted its position in Sandy Spring Bancorp by 26.2% in the 4th quarter. Geode Capital Management LLC now owns 354,643 shares of the bank’s stock valued at $13,838,000 after buying an additional 73,688 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Sandy Spring Bancorp by 6.1% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock valued at $25,311,000 after purchasing an additional 37,386 shares in the last quarter. 73.40% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. Stephens upgraded shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Thursday, February 22nd. Finally, Gabelli assumed coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Sandy Spring Bancorp currently has an average rating of “Hold” and a consensus target price of $44.80.
Shares of SASR stock opened at $37.23 on Friday. The stock has a market cap of $1,410.44, a PE ratio of 16.92, a PEG ratio of 1.02 and a beta of 0.87. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.07 and a quick ratio of 1.07. Sandy Spring Bancorp Inc. has a 12 month low of $36.41 and a 12 month high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. sell-side analysts forecast that Sandy Spring Bancorp Inc. will post 3.05 earnings per share for the current year.
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Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s 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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