TIAA CREF Investment Management LLC Has $4.63 Million Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

TIAA CREF Investment Management LLC raised its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,816 shares of the bank’s stock after acquiring an additional 5,202 shares during the quarter. TIAA CREF Investment Management LLC owned 0.47% of Sandy Spring Bancorp worth $4,628,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Sandy Spring Bancorp by 2.1% in the second quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock valued at $365,000 after acquiring an additional 182 shares during the period. Alliancebernstein L.P. lifted its holdings in Sandy Spring Bancorp by 0.5% in the first quarter. Alliancebernstein L.P. now owns 39,491 shares of the bank’s stock valued at $1,619,000 after acquiring an additional 200 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Sandy Spring Bancorp by 9.0% in the second quarter. Stratos Wealth Partners LTD. now owns 6,666 shares of the bank’s stock valued at $271,000 after acquiring an additional 551 shares during the period. Victory Capital Management Inc. lifted its holdings in Sandy Spring Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock valued at $206,000 after acquiring an additional 759 shares during the period. Finally, American International Group Inc. lifted its holdings in Sandy Spring Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 14,476 shares of the bank’s stock valued at $593,000 after acquiring an additional 943 shares during the period. 67.64% of the stock is owned by institutional investors.



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Sandy Spring Bancorp, Inc. (NASDAQ SASR) opened at 41.43 on Friday. The firm has a market cap of $993.78 million, a P/E ratio of 17.74 and a beta of 1.03. Sandy Spring Bancorp, Inc. has a 1-year low of $30.91 and a 1-year high of $45.64. The stock’s 50 day moving average price is $40.65 and its 200 day moving average price is $40.28.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). The firm had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.71%. During the same quarter last year, the company earned $0.56 EPS. Equities research analysts predict that Sandy Spring Bancorp, Inc. will post $2.50 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.51%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 43.15%.

A number of equities research analysts have commented on the company. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.00.

About Sandy Spring Bancorp

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.

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

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