Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Holdings Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,641 shares of the bank’s stock after selling 1,554 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.21% of Sandy Spring Bancorp worth $2,673,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Magnetar Financial LLC acquired a new position in Sandy Spring Bancorp in the 4th quarter worth about $21,212,000. Franklin Resources Inc. grew its holdings 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 valued at $62,492,000 after buying an additional 582,309 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in Sandy Spring Bancorp by 267.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 665,583 shares of the bank’s stock valued at $22,437,000 after buying an additional 484,514 shares during the last quarter. AQR Arbitrage LLC acquired a new stake in Sandy Spring Bancorp in the 4th quarter valued at approximately $13,492,000. Finally, Millennium Management LLC acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $13,221,000. 66.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sandy Spring Bancorp Trading Up 1.0%

Shares of SASR opened at $27.87 on Friday. The stock has a fifty day moving average price of $27.87 and a two-hundred day moving average price of $30.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. Sandy Spring Bancorp, Inc. has a 52-week low of $23.44 and a 52-week high of $39.55. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96.

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.