Virtu Financial LLC Invests $422,000 in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Virtu Financial LLC purchased a new stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,527 shares of the bank's stock, valued at approximately $422,000.

Several other institutional investors have also made changes to their positions in SASR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Sandy Spring Bancorp in the fourth quarter valued at about $228,000. Magnetar Financial LLC acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at approximately $21,212,000. Family Firm Inc. bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $204,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Sandy Spring Bancorp during the fourth quarter valued at approximately $1,094,000. Finally, Vestcor Inc bought a new stake in Sandy Spring Bancorp during the fourth quarter worth $37,000. 66.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a report on Monday, March 24th. They set a "sell" rating on the stock.

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Sandy Spring Bancorp Trading Down 3.1 %

NASDAQ:SASR traded down $0.89 during mid-day trading on Friday, hitting $27.60. 233,889 shares of the company's stock were exchanged, compared to its average volume of 327,894. Sandy Spring Bancorp, Inc. has a fifty-two week low of $19.52 and a fifty-two week 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 firm has a market capitalization of $1.25 billion, a P/E ratio of 61.33 and a beta of 0.96. The company has a 50 day simple moving average of $31.76 and a 200-day simple moving average of $33.34.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. As a group, research analysts expect that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.36 annualized dividend and a dividend yield of 4.93%. Sandy Spring Bancorp's payout ratio is 302.22%.

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.