Jefferies Group LLC Purchases Shares of 9,305 Sandy Spring Bancorp Inc. (SASR)

Jefferies Group LLC purchased a new stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,305 shares of the bank’s stock, valued at approximately $363,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Schroder Investment Management Group boosted its holdings in shares of Sandy Spring Bancorp by 28.0% in the fourth quarter. Schroder Investment Management Group now owns 11,009 shares of the bank’s stock valued at $430,000 after purchasing an additional 2,406 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Sandy Spring Bancorp by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 485,631 shares of the bank’s stock valued at $18,949,000 after purchasing an additional 2,914 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Sandy Spring Bancorp by 4.2% in the fourth quarter. California Public Employees Retirement System now owns 78,544 shares of the bank’s stock valued at $3,065,000 after purchasing an additional 3,167 shares during the period. KBC Group NV purchased a new stake in shares of Sandy Spring Bancorp in the third quarter valued at approximately $139,000. Finally, FNY Partners Fund LP purchased a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

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A number of brokerages recently issued reports on SASR. BidaskClub upgraded Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 20th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research note on Thursday, January 18th. Stephens raised shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Thursday, February 22nd. Finally, Gabelli started coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.80.

Sandy Spring Bancorp stock opened at $37.23 on Friday. The company has a market cap of $1,376.93, a P/E ratio of 16.92, a P/E/G ratio of 1.00 and a beta of 0.87. Sandy Spring Bancorp Inc. has a 12 month low of $36.41 and a 12 month high of $45.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.36.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $55.79 million during the quarter, compared to the consensus estimate of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. Sandy Spring Bancorp’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. analysts forecast that Sandy Spring Bancorp Inc. will post 3.05 EPS for the current fiscal year.

In related news, Director Shaza L. Andersen sold 8,546 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $39.64, for a total value of $338,763.44. Following the completion of the transaction, the director now owns 77,344 shares of the company’s stock, valued at $3,065,916.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joe Reeder sold 1,538 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $38.63, for a total transaction of $59,412.94. Following the completion of the transaction, the director now directly owns 154,473 shares of the company’s stock, valued at approximately $5,967,291.99. The disclosure for this sale can be found here. Insiders sold 93,256 shares of company stock valued at $3,660,166 in the last three months. 2.60% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for Sandy Spring Bancorp (NASDAQ:SASR)

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