Proficio Capital Partners LLC Purchases New Shares in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Proficio Capital Partners LLC purchased a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,473 shares of the bank's stock, valued at approximately $623,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth about $29,000. First National Trust Co raised its position in shares of Sandy Spring Bancorp by 5.2% during the third quarter. First National Trust Co now owns 10,050 shares of the bank's stock worth $315,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Sandy Spring Bancorp by 15.1% in the third quarter. Victory Capital Management Inc. now owns 799,835 shares of the bank's stock worth $25,091,000 after acquiring an additional 104,968 shares during the period. Empowered Funds LLC boosted its holdings in Sandy Spring Bancorp by 5.3% in the third quarter. Empowered Funds LLC now owns 112,409 shares of the bank's stock valued at $3,526,000 after acquiring an additional 5,628 shares during the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new stake in Sandy Spring Bancorp during the 3rd quarter valued at approximately $4,906,000. 66.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a report on Saturday, March 8th. They set a "sell" rating for the company.

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Sandy Spring Bancorp Trading Down 0.4 %

Shares of Sandy Spring Bancorp stock traded down $0.12 on Thursday, reaching $28.68. 165,035 shares of the company's stock were exchanged, compared to its average volume of 246,044. The firm's 50-day moving average is $32.67 and its two-hundred day moving average is $33.52. The company has a market capitalization of $1.29 billion, a P/E ratio of 63.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. Sandy Spring Bancorp, Inc. has a 52 week low of $19.52 and a 52 week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. Sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio is currently 302.22%.

Sandy Spring Bancorp Profile

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.