Bank of New York Mellon Corp Buys 47,309 Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Bank of New York Mellon Corp raised its stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) by 13.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,192 shares of the bank’s stock after acquiring an additional 47,309 shares during the period. Bank of New York Mellon Corp owned about 0.88% of Sandy Spring Bancorp worth $13,457,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SASR. Stifel Financial Corp bought a new position in shares of Sandy Spring Bancorp during the third quarter valued at about $217,000. Associated Banc Corp purchased a new stake in Sandy Spring Bancorp in the 3rd quarter valued at about $249,000. Meeder Asset Management Inc. lifted its position in shares of Sandy Spring Bancorp by 66.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank’s stock worth $249,000 after buying an additional 3,168 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $314,000. Finally, First National Trust Co boosted its stake in shares of Sandy Spring Bancorp by 5.2% in the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after buying an additional 500 shares during the last quarter. 66.90% of the stock is owned by hedge funds and other institutional investors.

Sandy Spring Bancorp Stock Up 0.7 %

SASR opened at $28.80 on Thursday. The company’s 50-day moving average price is $32.67 and its two-hundred day moving average price is $33.52. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp, Inc. has a twelve month low of $19.52 and a twelve month high of $39.55. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 64.00 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data 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 net margin of 2.65% and a return on equity of 5.31%. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.72%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 302.22%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a research report on Saturday, March 8th. They issued a “sell” rating on the stock.

About Sandy Spring Bancorp

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.