Macquarie Group Ltd. lessened its stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 59.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,926 shares of the bank’s stock after selling 4,300 shares during the period. Macquarie Group Ltd.’s holdings in Sandy Spring Bancorp were worth $120,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Sandy Spring Bancorp in the first quarter worth $111,000. Highlander Capital Management LLC bought a new stake in shares of Sandy Spring Bancorp in the first quarter worth $186,000. Hartford Investment Management Co. bought a new stake in shares of Sandy Spring Bancorp in the second quarter worth $246,000. Cubist Systematic Strategies LLC bought a new stake in shares of Sandy Spring Bancorp in the second quarter worth $264,000. Finally, Trexquant Investment LP bought a new stake in shares of Sandy Spring Bancorp in the second quarter worth $347,000. Institutional investors and hedge funds own 68.67% of the company’s stock.
SASR stock opened at $36.66 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.09 and a quick ratio of 1.08. Sandy Spring Bancorp Inc. has a 1-year low of $35.73 and a 1-year high of $43.87. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.68.
Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.12). Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The business had revenue of $79.86 million for the quarter, compared to the consensus estimate of $81.12 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis. Equities research analysts predict that Sandy Spring Bancorp Inc. will post 3.15 earnings per share for the current fiscal year.
In other Sandy Spring Bancorp news, Director Mark C. Michael sold 1,735 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $39.54, for a total transaction of $68,601.90. Following the completion of the sale, the director now owns 22,000 shares in the company, valued at $869,880. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.31% of the stock is owned by insiders.
SASR has been the subject of a number of research analyst reports. BidaskClub lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 19th. ValuEngine lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Sandler O’Neill upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Finally, Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus target price of $46.20.
About Sandy Spring Bancorp
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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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