The Manufacturers Life Insurance Company Trims Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

The Manufacturers Life Insurance Company trimmed its position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,956 shares of the bank’s stock after selling 977 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sandy Spring Bancorp were worth $740,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in Sandy Spring Bancorp by 45.8% in the 4th quarter. Franklin Resources Inc. now owns 1,853,807 shares of the bank’s stock worth $62,492,000 after buying an additional 582,309 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Sandy Spring Bancorp by 16.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 937,531 shares of the bank’s stock worth $31,604,000 after acquiring an additional 129,591 shares during the period. American Century Companies Inc. grew its position in shares of Sandy Spring Bancorp by 0.8% during the fourth quarter. American Century Companies Inc. now owns 893,547 shares of the bank’s stock worth $30,121,000 after purchasing an additional 6,815 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sandy Spring Bancorp by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,711 shares of the bank’s stock valued at $23,082,000 after purchasing an additional 4,787 shares during the period. Finally, Magnetar Financial LLC bought a new stake in Sandy Spring Bancorp during the 4th quarter valued at approximately $21,212,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a research note on Sunday. They set a “sell” rating on the stock.

Sandy Spring Bancorp Stock Up 1.0%

Shares of SASR opened at $27.87 on Thursday. The business’s 50 day moving average is $28.18 and its 200 day moving average is $32.34. The company has a market capitalization of $1.26 billion, a PE ratio of 61.93 and a beta of 0.96. Sandy Spring Bancorp, Inc. has a 12-month low of $21.37 and a 12-month high of $39.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

About Sandy Spring Bancorp

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.