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

New York Life Investment Management LLC purchased a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 88,674 shares of the bank’s stock, valued at approximately $2,989,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Sandy Spring Bancorp during the third quarter valued at approximately $29,000. Stifel Financial Corp bought a new stake in shares of Sandy Spring Bancorp during the third quarter valued at approximately $217,000. Associated Banc Corp bought a new stake in shares of Sandy Spring Bancorp during the third quarter valued at approximately $249,000. Meeder Asset Management Inc. raised its stake in shares of Sandy Spring Bancorp by 66.2% during the third quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank’s stock valued at $249,000 after acquiring an additional 3,168 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Sandy Spring Bancorp during the third quarter valued at approximately $254,000. Institutional investors own 66.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ:SASR opened at $31.97 on Friday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 71.05 and a beta of 0.97. Sandy Spring Bancorp, Inc. has a 52 week low of $19.52 and a 52 week high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $33.32 and a 200 day moving average of $33.48.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 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, sell-side analysts predict that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 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.