Bank of America Corp DE Sells 14,657 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Bank of America Corp DE cut its position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,733 shares of the bank’s stock after selling 14,657 shares during the quarter. Bank of America Corp DE owned 0.54% of Sandy Spring Bancorp worth $8,284,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Evermay Wealth Management LLC grew its holdings in shares of Sandy Spring Bancorp by 1,296.9% during the fourth quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock worth $424,000 after purchasing an additional 11,672 shares during the last quarter. New York Life Investment Management LLC bought a new position in Sandy Spring Bancorp during the fourth quarter worth $2,989,000. Barclays PLC increased its position in Sandy Spring Bancorp by 36.8% in the 3rd quarter. Barclays PLC now owns 119,799 shares of the bank’s stock valued at $3,759,000 after buying an additional 32,223 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Sandy Spring Bancorp by 140.6% in the 4th quarter. SG Americas Securities LLC now owns 13,004 shares of the bank’s stock worth $438,000 after purchasing an additional 7,600 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sandy Spring Bancorp by 13.4% during the fourth quarter. Bank of New York Mellon Corp now owns 399,192 shares of the bank’s stock valued at $13,457,000 after buying an additional 47,309 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Performance

NASDAQ SASR opened at $27.87 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. 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 52-week low of $21.37 and a 52-week high of $39.55. The company has a 50-day simple moving average of $28.02 and a 200 day simple moving average of $31.98.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on Sandy Spring Bancorp in a research report on Monday, May 19th. They issued a “sell” rating for the company.

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.