169,473 Shares in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 169,473 shares of the bank’s stock, valued at approximately $5,713,000. Raymond James Financial Inc. owned approximately 0.38% of Sandy Spring Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SASR. Proficio Capital Partners LLC bought a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at approximately $623,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Sandy Spring Bancorp by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 684,711 shares of the bank’s stock worth $23,082,000 after buying an additional 4,787 shares during the last quarter. Versor Investments LP bought a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth $1,678,000. New York Life Investment Management LLC bought a new position in Sandy Spring Bancorp in the 4th quarter worth $2,989,000. Finally, Heritage Investors Management Corp acquired a new position in Sandy Spring Bancorp during the 4th quarter worth $281,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Stock Up 2.8 %

SASR opened at $29.62 on Tuesday. The business has a 50 day moving average of $32.19 and a 200-day moving average of $33.42. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 65.82 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a 1-year low of $19.52 and a 1-year high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. As a group, sell-side analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The company 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 4.59%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 302.22%.

Analyst Ratings Changes

Separately, StockNews.com assumed 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.