StoneX Group Inc. Invests $796,000 in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

StoneX Group Inc. acquired a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,605 shares of the bank's stock, valued at approximately $796,000. StoneX Group Inc. owned 0.05% of Sandy Spring Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SASR. Intech Investment Management LLC purchased a new stake in Sandy Spring Bancorp in the 3rd quarter valued at about $314,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sandy Spring Bancorp by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 679,924 shares of the bank's stock worth $21,329,000 after acquiring an additional 11,117 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Sandy Spring Bancorp by 3.3% during the 3rd quarter. Cerity Partners LLC now owns 26,209 shares of the bank's stock worth $822,000 after purchasing an additional 832 shares during the period. BNP Paribas Financial Markets increased its holdings in Sandy Spring Bancorp by 13.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,985 shares of the bank's stock valued at $470,000 after purchasing an additional 1,788 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in Sandy Spring Bancorp in the third quarter valued at approximately $4,797,000. Institutional investors and hedge funds own 66.90% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a research note on Tuesday, April 1st. They set a "sell" rating on the stock.

Sandy Spring Bancorp Stock Up 1.0 %

Shares of Sandy Spring Bancorp stock traded up $0.27 during trading hours on Monday, reaching $27.87. 2,059,482 shares of the company were exchanged, compared to its average volume of 335,217. The firm has a market cap of $1.26 billion, a PE ratio of 61.93 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 1 year low of $19.52 and a 1 year high of $39.55. The stock's fifty day moving average is $31.20 and its 200 day moving average is $33.20.

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%. As a group, equities research analysts forecast that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

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 $0.34 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a yield of 4.88%. Sandy Spring Bancorp's dividend payout ratio is currently 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.