Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,537 shares of the bank’s stock after selling 3,311 shares during the quarter. Rhumbline Advisers owned 0.15% of Sandy Spring Bancorp worth $1,860,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vestcor Inc purchased a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at about $37,000. Sterling Capital Management LLC increased its holdings in Sandy Spring Bancorp by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock valued at $47,000 after buying an additional 1,256 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at approximately $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at approximately $228,000. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $232,000. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sandy Spring Bancorp Trading Up 1.0%

Sandy Spring Bancorp stock opened at $27.87 on Wednesday. The stock has a 50-day moving average price of $27.87 and a 200 day moving average price of $30.86. Sandy Spring Bancorp, Inc. has a 52 week low of $21.95 and a 52 week high of $39.55. The stock has a market cap of $1.26 billion, a PE ratio of 61.93 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

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.