StoneX Group Inc. Purchases New Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

StoneX Group Inc. purchased a new position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,605 shares of the bank’s stock, valued at approximately $796,000.

Several other institutional investors and hedge funds have also bought and sold shares of SASR. Vestcor Inc purchased a new position in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $37,000. Family Firm Inc. purchased a new stake in Sandy Spring Bancorp in the fourth quarter worth $204,000. Stifel Financial Corp bought a new position in Sandy Spring Bancorp in the third quarter worth $217,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Sandy Spring Bancorp during the fourth quarter valued at $228,000. Finally, Heritage Investors Management Corp bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at $281,000. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Sandy Spring Bancorp in a research report on Tuesday. They set a “sell” rating for the company.

Sandy Spring Bancorp Stock Up 1.0 %

Shares of NASDAQ:SASR opened at $27.87 on Thursday. 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 stock has a fifty day simple moving average of $31.39 and a two-hundred day simple moving average of $33.26. Sandy Spring Bancorp, Inc. has a 12-month low of $19.52 and a 12-month high of $39.55. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) 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, research analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders 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 4.88%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s payout ratio is 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.