Docoh
Loading...

SASR Sandy Spring Bancorp

Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 60 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services.

Company profile

Ticker
SASR
Exchange
Website
CEO
Daniel J. Schrider
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
520312970

SASR stock data

(
)

Calendar

7 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 228.62M 228.62M 228.62M 228.62M 228.62M 228.62M
Cash burn (monthly) 22.79M 2.71M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 93.12M 11.06M n/a n/a n/a n/a
Cash remaining 135.5M 217.56M n/a n/a n/a n/a
Runway (months of cash) 5.9 80.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Jul 21 Kaslow Aaron Michael Common Stock Payment of exercise Dispose F No No 42.38 885 37.51K 6,393.35
1 May 21 Kevin Slane Common Stock Payment of exercise Dispose F No No 45.36 729 33.07K 5,871
28 Apr 21 Ralph F Boyd JR Common Stock Grant Aquire A No No 0 769 0 769
28 Apr 21 Brian J Lemek Common Stock Grant Aquire A No No 0 769 0 769
28 Apr 21 Christina B O'Meara Common Stock Grant Aquire A No No 0 769 0 769

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

63.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 190 173 +9.8%
Opened positions 36 32 +12.5%
Closed positions 19 10 +90.0%
Increased positions 57 52 +9.6%
Reduced positions 59 51 +15.7%
13F shares
Current Prev Q Change
Total value 3.8B 1.97B +92.9%
Total shares 30.21M 30.16M +0.2%
Total puts 200 10.6K -98.1%
Total calls 0 0
Total put/call ratio Infinity Infinity NaN%
Largest owners
Shares Value Change
BLK Blackrock 4.61M $200.29M +5.1%
Dimensional Fund Advisors 2.66M $115.77M -3.3%
TROW T. Rowe Price 2.66M $115.45M +2.1%
Vanguard 2.57M $111.65M +3.7%
WHG Westwood 1.2M $51.9M -0.9%
MCQEF Macquarie 1.18M $51.07M +6.9%
STT State Street 1.14M $49.68M +11.3%
Alliancebernstein 846.71K $36.77M +6.0%
Geode Capital Management 795.35K $34.54M +9.6%
Investment Counselors Of Maryland 760.31K $33.02M +3.4%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -539.3K EXIT
JHG Janus Henderson 471.49K +471.49K NEW
GS Goldman Sachs 84.22K -284.21K -77.1%
BLK Blackrock 4.61M +225.57K +5.1%
Wellington Management 222.32K +222.32K NEW
Manufacturers Life Insurance Company, The 207.42K +180.45K +669.1%
Dalton Greiner Hartman Maher & Co 29.74K -154.61K -83.9%
NTRS Northern Trust 605.17K -153.91K -20.3%
William Blair Investment Management 212.86K -124.71K -36.9%
STT State Street 1.14M +115.72K +11.3%

Financial report summary

?
Competition
Financial Services
Risks
  • The widespread outbreak of COVID-19 has adversely affected, and will likely continue to adversely affect, our business, financial condition, and results of operations. Moreover, the longer the pandemic persists, the more material the ultimate effects are likely to be.
  • The Company has granted payment deferrals to borrowers that have experienced financial hardship due to COVID-19, and if those borrowers are unable to resume making payments the Company will experience an increase in non-accrual loans, which could adversely affect the Company’s earnings and financial condition.
  • Customary means to collect non-performing assets may be prohibited or impractical during the COVID-19 pandemic, and there is a risk that collateral securing a non-performing asset may deteriorate if the Company chooses not to, or is unable to, foreclose on collateral on a timely basis.
  • The Company may experience losses, additional expense and reputational harm arising out of its origination of PPP loans.
  • The geographic concentration of the Company’s operations makes the Company susceptible to downturns in local economic conditions.
  • Changes in interest rates may adversely affect earnings and financial condition.
  • Changes to and replacement of the LIBOR Benchmark Interest Rate may adversely affect our business, financial condition, and results of operations.
  • The Company is subject to liquidity risks.
  • The Company’s investment securities portfolio is subject to credit risk, market risk, and liquidity risk.
  • The Company’s allowance for credit losses may not be adequate to cover its actual credit losses, which could adversely affect the Company’s financial condition and results of operations.
  • The Company may not be able to adequately measure and limit its credit risk, which could lead to unexpected losses.
  • If non-performing assets increase, earnings will be adversely impacted.
  • The Company’s commercial real estate lending activities expose it to increased lending risks and related loan losses.
  • Imposition of limits by the bank regulators on commercial real estate lending activities could curtail the Company’s growth and adversely affect its earnings.
  • The Company’s concentration of residential mortgage loans exposes it to increased lending risks.
  • The Company may be subject to certain risks related to originating and selling mortgage loans.
  • Any delays in the Company’s ability to foreclose on delinquent mortgage loans may negatively impact the Company’s business.
  • The Company’s trust and wealth management fees may decrease as a result of poor investment performance, in either relative or absolute terms, which could decrease the Company’s revenues and net earnings.
  • The Company’s investment management contracts are terminable without cause and on relatively short notice by the Company’s clients, which makes the Company vulnerable to short-term declines in the performance of the securities under the Company’s management.
  • The wealth management business is heavily regulated, and the regulators have the ability to limit or restrict the Company’s activities and impose fines or suspensions on the conduct of the Company’s business.
  • Combining acquired businesses may be more difficult, costly or time consuming than expected and the anticipated benefits and cost savings of acquisitions may not be realized.
  • The Company depends on its executive officers and key personnel to continue the implementation of its long-term business strategy and could be harmed by the loss of their services.
  • Restrictions on unfriendly acquisitions could prevent a takeover of the Company.
  • Market competition may decrease the Company’s growth or profits.
  • The high volume of transactions processed by the Company exposes the Company to significant operational risks.
  • Failure to keep up with technological change in the financial services industry could have a material adverse effect on the Company’s competitive position or profitability.
  • The Company’s risk management framework may not be effective in mitigating risks and/or losses to the Company.
  • The Company’s information systems may experience an interruption or security breach.
  • Security breaches and other disruptions could compromise the Company’s information and expose the Company to liability, which would cause its business and reputation to suffer.
  • The reliance of the Company on third-party vendors could expose it to additional cyber risk and liability.
  • The Company outsources certain aspects of its data processing to certain third-party providers, which may expose it to additional risk.
  • The Company is dependent on its information technology and telecommunications systems; third-party service providers and systems failures, interruptions or breaches of security could have an adverse effect on its financial condition and results of operations.
  • Changes in accounting standards or interpretation of new or existing standards may affect how the Company reports its financial condition and results of operations.
  • The implementation of the Current Expected Credit Loss accounting standard could require the Company to increase its allowance for credit losses and may have a material adverse effect on its financial condition and results of operations.
  • Impairment in the carrying value of goodwill and other intangible assets could negatively impact the Company’s financial condition and results of operations.
  • The Company’s accounting estimates and risk management processes rely on analytical and forecasting models.
  • The Company operates in a highly regulated industry, and compliance with, or changes to, the laws and regulations that govern its operations may adversely affect the Company.
  • The Company will become subject to reduced interchange income in 2022.
  • The Company’s ability to pay dividends is limited by law.
  • Federal banking agencies periodically conduct examinations of the Company’s business, including compliance with laws and regulations; the failure to comply with any supervisory actions to which the Company is or becomes subject as a result of such examinations could adversely affect the Company.
  • The Company is subject to numerous laws designed to protect consumers, including the Community Reinvestment Act ("CRA") fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • The Company faces a risk of noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations.
  • Changes in U.S. or regional economic conditions could have an adverse effect on the Company’s business, financial condition and results of operations.
  • Societal responses to climate change could adversely affect the Company’s business and performance, including indirectly through impacts on the Company’s customers.
  • The market price for the Company’s stock may be volatile.
  • Future sales of the Company’s common stock or other securities may dilute the value and adversely affect the market price of the Company’s common stock.
  • Changes in tax laws and regulations and differences in interpretation of tax laws and regulations may negatively impact the Company’s financial performance.
  • Negative public opinion regarding the Company or failure to maintain the Company’s reputation in the communities it serves could adversely affect the Company’s business and prevent the Company from growing its business.
Management Discussion
  • Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • This report, as well as other periodic reports filed with the Securities and Exchange Commission, and written or oral communications made from time to time by or on behalf of Sandy Spring Bancorp, Inc. and its subsidiaries (the “Company”), may contain statements relating to future events or future results of the Company that are considered “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “estimate,” “intend” and “potential,” or words of similar meaning, or future or conditional verbs such as “should,” “could,” or “may.” Forward-looking statements include statements of our goals, intentions and expectations; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits.
  • Forward-looking statements reflect our expectation or prediction of future conditions, events or results based on information currently available. These forward-looking statements are subject to significant risks and uncertainties that may cause actual results to differ materially from those in such statements. These principal risks and uncertainties include, but are not limited to, the risks identified in Item 1A of the Company’s 2020 Annual Report on Form 10-K, Item 1A of Part II of this report and the following:
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
New words: ADC, cancellable, ceased, digital, erosion, fed, hospitality, NaN, passed, qualification, reinitiated, round, scenario, sector, SSB, SSIC, statistical, suffered, TCE, temporary, trend, unconditionally, vaccination, vast
Removed: adding, advantage, Atlanta, callable, certificate, compliant, compression, continued, cover, deferment, dislocation, eliminated, essential, essentially, implementation, implementing, junior, led, legacy, location, mentioned, merit, mortality, negatively, overhead, payroll, profoundly, redeemed, referred, reflecting, shifted, strong, taxable, uncertainty, vested