American Century Companies Inc. purchased a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 36,706 shares of the bank’s stock, valued at approximately $1,492,000. American Century Companies Inc. owned about 0.15% of Sandy Spring Bancorp at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Sandy Spring Bancorp by 554.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after buying an additional 3,038 shares during the last quarter. First Quadrant L P CA bought a new position in Sandy Spring Bancorp in the 2nd quarter worth $146,000. Victory Capital Management Inc. bought a new position in Sandy Spring Bancorp in the 1st quarter worth $177,000. Stratos Wealth Partners LTD. raised its holdings in Sandy Spring Bancorp by 5.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock worth $251,000 after purchasing an additional 301 shares during the period. Finally, Karp Capital Management Corp bought a new position in Sandy Spring Bancorp in the 1st quarter worth $267,000. Hedge funds and other institutional investors own 68.14% of the company’s stock.
A number of brokerages recently commented on SASR. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Saturday, September 9th. Finally, ValuEngine cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th.
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Sandy Spring Bancorp, Inc. (NASDAQ:SASR) opened at 38.85 on Friday. The company has a 50-day moving average price of $38.61 and a 200-day moving average price of $40.35. The company has a market capitalization of $931.89 million, a PE ratio of 16.63 and a beta of 1.02. Sandy Spring Bancorp, Inc. has a one year low of $27.86 and a one year high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. The company had revenue of $55.90 million for the quarter, compared to analyst estimates of $55.53 million. During the same period in the prior year, the company earned $0.44 earnings per share. Analysts expect that Sandy Spring Bancorp, Inc. will post $2.51 earnings per share for the current fiscal year.
Sandy Spring Bancorp 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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