New York Life Investment Management LLC Purchases Shares of 88,674 Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

New York Life Investment Management LLC bought a new stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 88,674 shares of the bank's stock, valued at approximately $2,989,000. New York Life Investment Management LLC owned about 0.20% of Sandy Spring Bancorp as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Heritage Investors Management Corp bought a new position in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $281,000. Bank of New York Mellon Corp raised its position in shares of Sandy Spring Bancorp by 13.4% in the fourth quarter. Bank of New York Mellon Corp now owns 399,192 shares of the bank's stock valued at $13,457,000 after purchasing an additional 47,309 shares during the period. Stieven Capital Advisors L.P. raised its position in shares of Sandy Spring Bancorp by 133.6% in the fourth quarter. Stieven Capital Advisors L.P. now owns 365,391 shares of the bank's stock valued at $12,317,000 after purchasing an additional 209,000 shares during the period. Congress Asset Management Co. raised its position in shares of Sandy Spring Bancorp by 7.3% in the fourth quarter. Congress Asset Management Co. now owns 191,541 shares of the bank's stock valued at $6,457,000 after purchasing an additional 12,951 shares during the period. Finally, ABC Arbitrage SA bought a new position in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $4,921,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Sandy Spring Bancorp in a research report on Friday, February 28th. They issued a "sell" rating on the stock.

Sandy Spring Bancorp Stock Performance

SASR stock traded down $0.27 on Wednesday, reaching $30.57. 218,720 shares of the company were exchanged, compared to its average volume of 239,548. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The stock's fifty day moving average price is $33.20 and its 200 day moving average price is $33.56. The firm has a market capitalization of $1.38 billion, a PE ratio of 67.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last announced its earnings results 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, research analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp's dividend payout ratio (DPR) 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.