Bronfman E.L. Rothschild L.P. reduced its stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,565 shares of the bank’s stock after selling 9,977 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Sandy Spring Bancorp were worth $3,017,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Sandy Spring Bancorp in the first quarter worth $111,000. Highlander Capital Management LLC bought a new position in shares of Sandy Spring Bancorp in the first quarter worth $186,000. Canandaigua National Bank & Trust Co. bought a new position in shares of Sandy Spring Bancorp in the first quarter worth $217,000. Hartford Investment Management Co. bought a new position in shares of Sandy Spring Bancorp in the second quarter worth $246,000. Finally, Alpine Woods Capital Investors LLC bought a new position in shares of Sandy Spring Bancorp in the first quarter worth $271,000. 68.61% of the stock is owned by hedge funds and other institutional investors.
In other Sandy Spring Bancorp news, Director Mark C. Michael sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $41.88, for a total transaction of $83,760.00. Following the sale, the director now owns 78,590 shares in the company, valued at $3,291,349.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shaza L. Andersen sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $43.37, for a total value of $433,700.00. Following the sale, the director now owns 53,590 shares in the company, valued at approximately $2,324,198.30. The disclosure for this sale can be found here. Insiders have sold 79,498 shares of company stock worth $3,397,428 in the last 90 days. Company insiders own 3.31% of the company’s stock.
NASDAQ:SASR opened at $39.37 on Monday. The firm has a market cap of $1.39 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75. Sandy Spring Bancorp Inc. has a 52-week low of $36.41 and a 52-week high of $43.87. 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 (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, July 19th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). The business had revenue of $79.86 million for the quarter, compared to the consensus estimate of $81.12 million. Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. Sandy Spring Bancorp’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. equities research analysts anticipate that Sandy Spring Bancorp Inc. will post 3.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 7th. This represents a $1.12 dividend on an annualized basis and a yield of 2.84%. Sandy Spring Bancorp’s payout ratio is 44.09%.
Several research firms recently issued reports on SASR. BidaskClub raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. ValuEngine raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. Keefe, Bruyette & Woods raised Sandy Spring Bancorp from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Tuesday, April 24th. Zacks Investment Research lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Sandler O’Neill raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Sandy Spring Bancorp presently has a consensus rating of “Hold” and an average target price of $46.20.
Sandy Spring Bancorp Company 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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
Recommended Story: What are CEFs?
Want to see what other hedge funds are holding SASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sandy Spring Bancorp Inc. (NASDAQ:SASR).
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.