Banc Funds Co Lowers stake in Sandy Spring Bancorp (SASR)

Sandy Spring Bancorp (SASR) : Banc Funds Co reduced its stake in Sandy Spring Bancorp by 1.74% during the most recent quarter end. The investment management company now holds a total of 1,126,693 shares of Sandy Spring Bancorp which is valued at $33,789,523 after selling 20,000 shares in Sandy Spring Bancorp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Sandy Spring Bancorp makes up approximately 1.88% of Banc Funds Co’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in SASR in the latest quarter, The investment management firm added 2,266 additional shares and now holds a total of 182,257 shares of Sandy Spring Bancorp which is valued at $5,465,887.California Public Employees Retirement System reduced its stake in SASR by selling 200 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 85,200 shares of SASR which is valued at $2,536,404.

Sandy Spring Bancorp opened for trading at $31.15 and hit $31.53 on the upside on Monday, eventually ending the session at $31.23, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 32,455 shares. Company has a market cap of $746 M.

On the company’s financial health, Sandy Spring Bancorp reported $0.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 49.30.During the same quarter in the previous year, the company posted $0.42 EPS.

Sandy Spring Bancorp Inc. is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services including various loan and deposit products to both individuals and businesses. The Insurance segment operates through Sandy Spring Insurance Corporation a subsidiary of the Bank and offers annuities as an alternative to traditional deposit accounts. The Investment Management segment operates through West Financial Services Inc. a subsidiary of the Bank which provides investment management and financial planning services. The Bank’s product portfolio includes loan and lease products deposit activities treasury activities and borrowing activities. The Bank operates around 44 community offices located in Central Maryland and Northern Virginia.

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