Bank of New York Mellon Corp Increases Stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Bank of New York Mellon Corp increased its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 399,192 shares of the bank's stock after acquiring an additional 47,309 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Sandy Spring Bancorp worth $13,457,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First National Trust Co grew its holdings in shares of Sandy Spring Bancorp by 5.2% in the third quarter. First National Trust Co now owns 10,050 shares of the bank's stock worth $315,000 after purchasing an additional 500 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sandy Spring Bancorp by 15.1% during the 3rd quarter. Victory Capital Management Inc. now owns 799,835 shares of the bank's stock valued at $25,091,000 after acquiring an additional 104,968 shares during the period. Empowered Funds LLC lifted its stake in shares of Sandy Spring Bancorp by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 112,409 shares of the bank's stock valued at $3,526,000 after purchasing an additional 5,628 shares during the period. Stieven Capital Advisors L.P. purchased a new stake in Sandy Spring Bancorp in the 3rd quarter worth $4,906,000. Finally, Meeder Asset Management Inc. increased its holdings in Sandy Spring Bancorp by 66.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank's stock worth $249,000 after acquiring an additional 3,168 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company's stock.

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Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Sunday. They issued a "sell" rating on the stock.

Sandy Spring Bancorp Stock Up 1.5 %

Sandy Spring Bancorp stock traded up $0.42 during mid-day trading on Friday, hitting $29.12. The company had a trading volume of 163,740 shares, compared to its average volume of 245,921. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 64.71 and a beta of 0.96. The business has a fifty day moving average of $32.51 and a 200 day moving average of $33.49. Sandy Spring Bancorp, Inc. has a 1 year low of $19.52 and a 1 year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share 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%. On average, sell-side analysts expect that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio (DPR) is presently 302.22%.

Sandy Spring Bancorp Company 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.