Tritonpoint Wealth LLC Has $534,000 Stock Holdings in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Tritonpoint Wealth LLC lowered its stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,119 shares of the bank’s stock after selling 1,000 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Sandy Spring Bancorp were worth $534,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SASR. Vestcor Inc acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at $37,000. Sterling Capital Management LLC lifted its stake in shares of Sandy Spring Bancorp by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,256 shares during the period. Family Firm Inc. acquired a new stake in Sandy Spring Bancorp during the 4th quarter worth $204,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Sandy Spring Bancorp during the 4th quarter worth $228,000. Finally, Aquatic Capital Management LLC acquired a new stake in Sandy Spring Bancorp during the 4th quarter worth $232,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $27.87 on Friday. 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 12 month low of $21.87 and a 12 month high of $39.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $27.87 and its 200 day simple moving average is $30.99.

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.