Kenneth C. Cook Sells 746 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Stock

Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Get Free Report) Director Kenneth C. Cook sold 746 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $28.59, for a total value of $21,328.14. Following the completion of the sale, the director now owns 289,537 shares in the company, valued at $8,277,862.83. The trade was a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Sandy Spring Bancorp Stock Up 0.1 %

Shares of Sandy Spring Bancorp stock traded up $0.02 on Tuesday, reaching $29.40. 164,340 shares of the company were exchanged, compared to its average volume of 317,666. Sandy Spring Bancorp, Inc. has a one year low of $19.52 and a one year high of $39.55. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 65.33 and a beta of 0.96. 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 company has a 50-day moving average of $32.39 and a 200 day moving average of $33.48.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

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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 issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp's payout ratio is presently 302.22%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Sandy Spring Bancorp in a research note on Sunday. They issued a "sell" rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SASR. Magnetar Financial LLC acquired a new position in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $21,212,000. Franklin Resources Inc. increased its holdings in shares of Sandy Spring Bancorp by 93.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank's stock worth $41,235,000 after acquiring an additional 615,591 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Sandy Spring Bancorp by 267.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 665,583 shares of the bank's stock worth $22,437,000 after acquiring an additional 484,514 shares during the last quarter. Basswood Capital Management L.L.C. increased its holdings in shares of Sandy Spring Bancorp by 2,164.4% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank's stock worth $14,709,000 after acquiring an additional 448,184 shares during the last quarter. Finally, AQR Arbitrage LLC acquired a new position in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $13,492,000. 66.90% of the stock is owned by institutional investors and hedge funds.

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.