Evermay Wealth Management LLC Reduces Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Evermay Wealth Management LLC decreased its holdings in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 85.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900 shares of the bank’s stock after selling 5,339 shares during the quarter. Evermay Wealth Management LLC’s holdings in Sandy Spring Bancorp were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SASR. Nisa Investment Advisors LLC lifted its position in shares of Sandy Spring Bancorp by 231.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,748 shares of the bank’s stock worth $369,000 after buying an additional 8,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Sandy Spring Bancorp by 2.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after acquiring an additional 609 shares in the last quarter. SPC Financial Inc. purchased a new stake in Sandy Spring Bancorp in the third quarter valued at $1,975,000. Creative Planning boosted its stake in Sandy Spring Bancorp by 11.9% in the third quarter. Creative Planning now owns 66,208 shares of the bank’s stock valued at $2,077,000 after acquiring an additional 7,024 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Sandy Spring Bancorp by 27.4% during the third quarter. CWM LLC now owns 7,086 shares of the bank’s stock worth $222,000 after purchasing an additional 1,525 shares during the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SASR has been the subject of several research reports. DA Davidson boosted their target price on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com started coverage on Sandy Spring Bancorp in a report on Thursday. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods raised their target price on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $34.10 on Thursday. Sandy Spring Bancorp, Inc. has a 52-week low of $19.52 and a 52-week high of $34.63. The stock’s 50-day moving average price is $31.79 and its 200 day moving average price is $27.17. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.54 billion, a PE ratio of 16.72 and a beta of 0.95.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.74% and a net margin of 11.54%. The company had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. During the same quarter last year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 1.85 EPS for the current year.

Sandy Spring Bancorp 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.