Dynamic Technology Lab Private Ltd Acquires Shares of 12,326 Sandy Spring Bancorp Inc. (SASR)

Dynamic Technology Lab Private Ltd acquired a new stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) during the second quarter, according to its most recent filing with the SEC. The firm acquired 12,326 shares of the bank’s stock, valued at approximately $505,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SASR. Wells Fargo & Company MN boosted its position in Sandy Spring Bancorp by 59.5% in the 1st quarter. Wells Fargo & Company MN now owns 131,269 shares of the bank’s stock valued at $5,088,000 after buying an additional 48,947 shares during the last quarter. Rhumbline Advisers boosted its position in Sandy Spring Bancorp by 30.4% in the 1st quarter. Rhumbline Advisers now owns 34,787 shares of the bank’s stock valued at $1,348,000 after buying an additional 8,101 shares during the last quarter. SG Americas Securities LLC bought a new position in Sandy Spring Bancorp in the 1st quarter valued at $111,000. Victory Capital Management Inc. boosted its position in Sandy Spring Bancorp by 69.4% in the 1st quarter. Victory Capital Management Inc. now owns 11,024 shares of the bank’s stock valued at $427,000 after buying an additional 4,515 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Sandy Spring Bancorp by 21.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 352,701 shares of the bank’s stock valued at $13,671,000 after buying an additional 62,912 shares during the last quarter. Hedge funds and other institutional investors own 68.71% of the company’s stock.

SASR stock opened at $39.19 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.08 and a current ratio of 1.09. The firm has a market capitalization of $1.38 billion, a PE ratio of 15.43, a P/E/G ratio of 1.11 and a beta of 0.68. Sandy Spring Bancorp Inc. has a twelve month low of $36.41 and a twelve month high of $43.87.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). The company had revenue of $79.86 million during 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 business’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. analysts expect that Sandy Spring Bancorp Inc. will post 3.15 earnings per share for the current fiscal year.

A number of research analysts have commented on the company. ValuEngine lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, BidaskClub lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Sandy Spring Bancorp has an average rating of “Hold” and a consensus target price of $46.20.

In other news, Director Mark C. Michael sold 1,735 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.54, for a total value of $68,601.90. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at approximately $869,880. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark C. Michael sold 2,000 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $42.52, for a total value of $85,040.00. Following the completion of the transaction, the director now directly owns 37,000 shares in the company, valued at approximately $1,573,240. The disclosure for this sale can be found here. In the last three months, insiders sold 14,735 shares of company stock worth $615,882. 3.31% of the stock is currently owned by company insiders.

About Sandy Spring Bancorp

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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