Magnetar Financial LLC Acquires Shares of 629,263 Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Magnetar Financial LLC purchased a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 629,263 shares of the bank's stock, valued at approximately $21,212,000. Magnetar Financial LLC owned about 1.39% of Sandy Spring Bancorp at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. acquired a new position in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $204,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Sandy Spring Bancorp in the 4th quarter valued at approximately $1,094,000. Vestcor Inc bought a new position in shares of Sandy Spring Bancorp during the fourth quarter valued at $37,000. Hopwood Financial Services Inc. acquired a new position in shares of Sandy Spring Bancorp during the fourth quarter worth $528,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Sandy Spring Bancorp in the fourth quarter worth $5,713,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Sandy Spring Bancorp Trading Up 2.8 %

SASR stock traded up $0.80 during midday trading on Monday, hitting $29.62. The stock had a trading volume of 262,153 shares, compared to its average volume of 317,226. 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 business has a fifty day moving average price of $32.19 and a two-hundred day moving average price of $33.42. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55. The firm has a market cap of $1.34 billion, a P/E ratio of 65.82 and a beta of 0.96.

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Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last released its quarterly earnings data 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 net margin of 2.65% and a return on equity of 5.31%. On average, sell-side analysts predict 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. Investors of record on Wednesday, February 12th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio (DPR) is currently 302.22%.

Analysts Set New Price Targets

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

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.