Macquarie Group Ltd. Has $120,000 Stake in Sandy Spring Bancorp Inc. (SASR)

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Macquarie Group Ltd. reduced its stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 59.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Sandy Spring Bancorp by 59.5% in the first quarter. Wells Fargo & Company MN now owns 131,269 shares of the bank’s stock worth $5,088,000 after acquiring an additional 48,947 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp in the first quarter worth approximately $111,000. Schwab Charles Investment Management Inc. boosted its position in shares of Sandy Spring Bancorp by 29.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 192,240 shares of the bank’s stock worth $7,452,000 after acquiring an additional 44,081 shares during the last quarter. Northern Trust Corp boosted its position in shares of Sandy Spring Bancorp by 17.4% in the first quarter. Northern Trust Corp now owns 643,700 shares of the bank’s stock worth $24,949,000 after acquiring an additional 95,422 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Sandy Spring Bancorp by 21.6% in the first quarter. BlackRock Inc. now owns 2,621,617 shares of the bank’s stock worth $101,614,000 after acquiring an additional 465,474 shares during the last quarter. 68.67% of the stock is owned by hedge funds and other institutional investors.

In other Sandy Spring Bancorp news, Director Mark C. Michael sold 1,735 shares of Sandy Spring Bancorp stock in a transaction that occurred 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 transaction, the director now directly owns 22,000 shares of the company’s stock, valued at $869,880. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.31% of the company’s stock.

Shares of SASR stock opened at $36.66 on Friday. The company 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. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.08 and a current ratio of 1.09. Sandy Spring Bancorp Inc. has a fifty-two week low of $35.73 and a fifty-two week high of $43.87.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.12). The business had revenue of $79.86 million for the quarter, compared to analyst estimates of $81.12 million. Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The company’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. As a group, equities research analysts anticipate that Sandy Spring Bancorp Inc. will post 3.15 earnings per share for the current fiscal year.

SASR has been the topic of several research analyst reports. BidaskClub raised shares of Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 8th. ValuEngine cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, Sandler O’Neill raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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.

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

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