Brown Advisory Inc. Purchases 1,225 Shares of Sandy Spring Bancorp Inc. (SASR)
Brown Advisory Inc. increased its position in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 2.6% in the 4th quarter, Holdings Channel reports. The fund owned 48,410 shares of the bank’s stock after purchasing an additional 1,225 shares during the period. Brown Advisory Inc.’s holdings in Sandy Spring Bancorp were worth $1,518,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Sandy Spring Bancorp by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock worth $9,857,000 after acquiring an additional 2,495 shares during the period. First Trust Advisors LP grew its position in Sandy Spring Bancorp by 71.2% in the 3rd quarter. First Trust Advisors LP now owns 86,252 shares of the bank’s stock worth $3,391,000 after purchasing an additional 35,878 shares during the last quarter. Russell Investments Group Ltd. grew its position in Sandy Spring Bancorp by 42.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 29,805 shares of the bank’s stock worth $1,172,000 after purchasing an additional 8,875 shares during the last quarter. US Bancorp DE grew its position in Sandy Spring Bancorp by 54,742.9% in the 3rd quarter. US Bancorp DE now owns 7,678 shares of the bank’s stock worth $302,000 after purchasing an additional 7,664 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Sandy Spring Bancorp by 226.2% in the 3rd quarter. Victory Capital Management Inc. now owns 41,686 shares of the bank’s stock worth $1,639,000 after purchasing an additional 28,908 shares during the last quarter. 68.55% of the stock is owned by institutional investors.
In related news, Director Mark E. Friis acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was acquired at an average cost of $31.86 per share, for a total transaction of $31,860.00. Following the completion of the acquisition, the director now directly owns 11,235 shares of the company’s stock, valued at approximately $357,947.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronda M. Mcdowell sold 744 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the completion of the transaction, the executive vice president now owns 6,034 shares of the company’s stock, valued at $211,310.68. The disclosure for this sale can be found here. Company insiders own 3.31% of the company’s stock.
NASDAQ SASR opened at $31.83 on Thursday. Sandy Spring Bancorp Inc. has a 52 week low of $29.87 and a 52 week high of $43.87. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.13 and a beta of 0.79.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, January 17th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.07). The company had revenue of $80.18 million during the quarter, compared to the consensus estimate of $81.94 million. Sandy Spring Bancorp had a net margin of 26.19% and a return on equity of 10.00%. During the same quarter last year, the business earned $0.34 earnings per share. As a group, equities analysts expect that Sandy Spring Bancorp Inc. will post 3.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Stockholders of record on Wednesday, February 13th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Tuesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 39.16%.
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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 The company operates in three segments: Community Banking, Insurance, and Investment Management.
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