Joseph S. Bracewell Sells 20,700 Shares of Sandy Spring Bancorp Inc. (SASR) Stock
Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Joseph S. Bracewell sold 20,700 shares of Sandy Spring Bancorp stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $39.41, for a total transaction of $815,787.00. Following the transaction, the director now owns 134,473 shares of the company’s stock, valued at $5,299,580.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Sandy Spring Bancorp Inc. (NASDAQ SASR) opened at $39.15 on Friday. Sandy Spring Bancorp Inc. has a twelve month low of $36.41 and a twelve month high of $45.64. The firm has a market cap of $929.99, a PE ratio of 17.80, a P/E/G ratio of 1.00 and a beta of 0.86. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.36.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The business had revenue of $55.79 million for the quarter, compared to analysts’ expectations of $56.21 million. During the same period in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. analysts predict that Sandy Spring Bancorp Inc. will post 3.05 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Sandy Spring Bancorp by 4.6% during the fourth quarter. BlackRock Inc. now owns 2,156,143 shares of the bank’s stock worth $84,134,000 after purchasing an additional 95,615 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sandy Spring Bancorp by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock worth $75,534,000 after purchasing an additional 35,355 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Sandy Spring Bancorp by 1.0% during the second quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after purchasing an additional 10,359 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Sandy Spring Bancorp by 2.8% during the third quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock worth $39,137,000 after purchasing an additional 25,663 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its holdings in Sandy Spring Bancorp by 6.1% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after purchasing an additional 37,386 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.
SASR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Tuesday, January 2nd. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Gabelli initiated coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $44.80.
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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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