Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Stake Lowered by Congress Asset Management Co.

Congress Asset Management Co. trimmed its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 178,400 shares of the bank’s stock after selling 13,141 shares during the quarter. Congress Asset Management Co. owned about 0.40% of Sandy Spring Bancorp worth $4,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SASR. Vestcor Inc bought a new stake in shares of Sandy Spring Bancorp during the fourth quarter valued at approximately $37,000. Sterling Capital Management LLC raised its stake in Sandy Spring Bancorp by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,256 shares in the last quarter. Family Firm Inc. bought a new stake in Sandy Spring Bancorp during the 4th quarter valued at $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Sandy Spring Bancorp during the 4th quarter worth $228,000. Finally, Aquatic Capital Management LLC bought a new position in shares of Sandy Spring Bancorp in the fourth quarter worth $232,000. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Trading Up 1.0%

Shares of NASDAQ:SASR opened at $27.87 on Monday. The company has a 50 day moving average of $27.87 and a 200-day moving average of $31.30. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.26 billion, a P/E ratio of 61.93 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a twelve month low of $21.37 and a twelve month high of $39.55.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on shares of Sandy Spring Bancorp in a research note on Monday, May 19th. They set a “sell” rating on the stock.

Sandy Spring Bancorp Company 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 in the United States. It offers financial products and services, including various loan and deposit products.