EJF Capital LLC Lowers Stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR)

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EJF Capital LLC cut its position in shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,872 shares of the bank’s stock after selling 17,196 shares during the quarter. EJF Capital LLC owned approximately 0.36% of Sandy Spring Bancorp worth $4,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SASR. BlackRock Inc. grew its holdings in shares of Sandy Spring Bancorp by 16.6% during the second quarter. BlackRock Inc. now owns 3,436,120 shares of the bank’s stock worth $119,852,000 after buying an additional 488,194 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Sandy Spring Bancorp by 38.4% during the first quarter. William Blair Investment Management LLC now owns 552,932 shares of the bank’s stock worth $17,296,000 after buying an additional 153,428 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Sandy Spring Bancorp by 101.8% during the second quarter. Wells Fargo & Company MN now owns 137,332 shares of the bank’s stock worth $4,790,000 after buying an additional 69,279 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Sandy Spring Bancorp by 43.4% during the second quarter. Prudential Financial Inc. now owns 208,468 shares of the bank’s stock worth $7,272,000 after buying an additional 63,063 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of Sandy Spring Bancorp by 69.1% during the second quarter. Congress Asset Management Co. MA now owns 149,009 shares of the bank’s stock worth $5,197,000 after buying an additional 60,894 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

A number of brokerages have recently commented on SASR. Boenning Scattergood assumed coverage on shares of Sandy Spring Bancorp in a report on Monday, June 24th. They set a “buy” rating and a $37.25 price target for the company. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $37.85.

Shares of SASR traded up $0.17 during mid-day trading on Thursday, hitting $36.25. The company had a trading volume of 2,117 shares, compared to its average volume of 92,196. The business’s 50-day simple moving average is $34.32 and its 200-day simple moving average is $33.91. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.55. Sandy Spring Bancorp Inc. has a 1-year low of $29.83 and a 1-year high of $40.56. The stock has a market cap of $1.28 billion, a PE ratio of 12.66, a P/E/G ratio of 1.82 and a beta of 0.86.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, July 18th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. The business had revenue of $82.74 million for the quarter, compared to analysts’ expectations of $82.39 million. Sandy Spring Bancorp had a net margin of 27.80% and a return on equity of 10.14%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, sell-side analysts expect that Sandy Spring Bancorp Inc. will post 3.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.31%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 41.96%.

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

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