Raymond James Financial Inc. purchased a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 169,473 shares of the bank's stock, valued at approximately $5,713,000. Raymond James Financial Inc. owned approximately 0.38% of Sandy Spring Bancorp at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Stifel Financial Corp bought a new stake in Sandy Spring Bancorp during the 3rd quarter worth approximately $217,000. Associated Banc Corp acquired a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at about $249,000. Heritage Investors Management Corp bought a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at about $281,000. Intech Investment Management LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $314,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Sandy Spring Bancorp during the fourth quarter worth about $370,000. Institutional investors and hedge funds own 66.90% of the company's stock.
Sandy Spring Bancorp Stock Down 3.1 %
Shares of Sandy Spring Bancorp stock traded down $0.89 during trading hours on Friday, reaching $27.60. 233,889 shares of the company's stock were exchanged, compared to its average volume of 328,219. The stock has a market cap of $1.25 billion, a P/E ratio of 61.33 and a beta of 0.96. The company has a 50 day moving average of $31.88 and a two-hundred day moving average of $33.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a fifty-two week low of $19.52 and a fifty-two week high of $39.55.
Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its quarterly earnings results 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%. On average, sell-side analysts forecast that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current fiscal year.
Sandy Spring Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio (DPR) is presently 302.22%.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Sandy Spring Bancorp in a research note on Monday. They issued a "sell" rating on the stock.
Check Out Our Latest Analysis on SASR
Sandy Spring Bancorp Profile
(
Free Report)
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.
Further Reading
Before you consider Sandy Spring Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sandy Spring Bancorp wasn't on the list.
While Sandy Spring Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
