Swiss National Bank Raises Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Swiss National Bank increased its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 0.7% during the first quarter, Holdings Channel.com reports. The firm owned 102,135 shares of the bank’s stock after acquiring an additional 700 shares during the quarter. Swiss National Bank’s holdings in Sandy Spring Bancorp were worth $4,436,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Alliancebernstein L.P. raised its position in Sandy Spring Bancorp by 6.0% in the 1st quarter. Alliancebernstein L.P. now owns 846,710 shares of the bank’s stock worth $36,773,000 after purchasing an additional 47,892 shares during the period. Congress Asset Management Co. MA raised its position in Sandy Spring Bancorp by 21.9% in the 1st quarter. Congress Asset Management Co. MA now owns 139,064 shares of the bank’s stock worth $6,040,000 after purchasing an additional 24,945 shares during the period. Envestnet Asset Management Inc. raised its position in Sandy Spring Bancorp by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 20,733 shares of the bank’s stock worth $900,000 after purchasing an additional 1,280 shares during the period. Chartwell Investment Partners LLC raised its position in Sandy Spring Bancorp by 0.5% in the 1st quarter. Chartwell Investment Partners LLC now owns 464,514 shares of the bank’s stock worth $20,174,000 after purchasing an additional 2,505 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Sandy Spring Bancorp by 669.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 207,423 shares of the bank’s stock worth $9,009,000 after purchasing an additional 180,453 shares during the period. Institutional investors own 63.95% of the company’s stock.

Shares of Sandy Spring Bancorp stock opened at $45.76 on Friday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.01 and a beta of 1.17. Sandy Spring Bancorp, Inc. has a 12-month low of $21.11 and a 12-month high of $48.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a fifty day moving average price of $45.46.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Wednesday, April 21st. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.56. The business had revenue of $133.47 million for the quarter, compared to analyst estimates of $132.78 million. Sandy Spring Bancorp had a net margin of 28.63% and a return on equity of 10.92%. The company’s revenue was up 61.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, sell-side analysts expect that Sandy Spring Bancorp, Inc. will post 4.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 19th. Shareholders of record on Wednesday, May 12th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Tuesday, May 11th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 34.13%.

Sandy Spring Bancorp Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses. The company 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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