Rhumbline Advisers grew its stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,142 shares of the bank’s stock after acquiring an additional 2,355 shares during the period. Rhumbline Advisers’ holdings in Sandy Spring Bancorp were worth $1,523,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Sandy Spring Bancorp during the 1st quarter worth approximately $111,000. Highlander Capital Management LLC purchased a new stake in Sandy Spring Bancorp during the 1st quarter worth approximately $186,000. Canandaigua National Bank & Trust Co. purchased a new stake in Sandy Spring Bancorp during the 1st quarter worth approximately $217,000. Hartford Investment Management Co. purchased a new stake in Sandy Spring Bancorp during the 2nd quarter worth approximately $246,000. Finally, Alpine Woods Capital Investors LLC purchased a new stake in Sandy Spring Bancorp during the 1st quarter worth approximately $271,000. 68.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of SASR opened at $39.19 on Friday. Sandy Spring Bancorp Inc. has a fifty-two week low of $36.41 and a fifty-two week high of $43.87. The company has a market cap of $1.38 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.11 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.07.

Sandy Spring Bancorp (NASDAQ:SASR) last announced 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 return on equity of 10.53% and a net margin of 22.29%. The business had revenue of $79.86 million for the quarter, compared to analysts’ expectations of $81.12 million. During the same period in the previous year, the company earned $0.61 earnings per share. Sandy Spring Bancorp’s quarterly revenue was up 41.3% on a year-over-year basis. research analysts forecast 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 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $41.95, for a total transaction of $41,950.00. Following the completion of the transaction, the director now owns 28,000 shares in the company, valued at approximately $1,174,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark C. Michael sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $41.80, for a total transaction of $83,600.00. Following the transaction, the director now owns 41,000 shares of the company’s stock, valued at approximately $1,713,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,735 shares of company stock worth $699,482. 3.31% of the stock is owned by insiders.

SASR has been the topic of several recent research reports. BidaskClub raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. Sandler O’Neill raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. ValuEngine raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. Finally, Zacks Investment Research downgraded 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 given a hold rating and four have given a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and an average price target of $46.20.

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 markets. It operates through 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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