Goldman Sachs Group Inc. grew its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 13.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 808,009 shares of the bank’s stock after acquiring an additional 98,650 shares during the period. Goldman Sachs Group Inc. owned about 3.37% of Sandy Spring Bancorp worth $32,854,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Sandy Spring Bancorp by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,787,390 shares of the bank’s stock worth $72,676,000 after acquiring an additional 28,837 shares during the period. Vanguard Group Inc. boosted its position in shares of Sandy Spring Bancorp by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after purchasing an additional 10,359 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Sandy Spring Bancorp by 0.3% in the 2nd quarter. William Blair Investment Management LLC now owns 471,799 shares of the bank’s stock worth $19,183,000 after purchasing an additional 1,347 shares in the last quarter. State Street Corp boosted its position in shares of Sandy Spring Bancorp by 0.5% in the 1st quarter. State Street Corp now owns 448,049 shares of the bank’s stock worth $18,364,000 after purchasing an additional 2,160 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Sandy Spring Bancorp by 26.7% in the 2nd quarter. Renaissance Technologies LLC now owns 431,354 shares of the bank’s stock worth $17,539,000 after purchasing an additional 90,954 shares in the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.
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Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $55.90 million for the quarter, compared to analyst estimates of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same period last year, the company posted $0.44 earnings per share. Analysts forecast that Sandy Spring Bancorp, Inc. will post $2.51 EPS for the current year.
SASR has been the topic of a number of analyst reports. BidaskClub cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, September 20th. Finally, ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd.
Sandy Spring Bancorp Profile
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.
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