New York Life Investment Management LLC Purchases 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) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 88,674 shares of the bank’s stock, valued at approximately $2,989,000. New York Life Investment Management LLC owned 0.20% of Sandy Spring Bancorp as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tritonpoint Wealth LLC grew its position in shares of Sandy Spring Bancorp by 1.5% during the fourth quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock valued at $678,000 after purchasing an additional 302 shares in the last quarter. First National Trust Co grew its position in shares of Sandy Spring Bancorp by 5.2% during the third quarter. First National Trust Co now owns 10,050 shares of the bank’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Sandy Spring Bancorp by 2.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock valued at $818,000 after purchasing an additional 609 shares in the last quarter. Cerity Partners LLC grew its position in shares of Sandy Spring Bancorp by 3.3% during the third quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock valued at $822,000 after purchasing an additional 832 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Sandy Spring Bancorp during the third quarter valued at about $29,000. 66.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Sandy Spring Bancorp Trading Up 1.0 %

SASR opened at $31.97 on Friday. The firm has a market cap of $1.44 billion, a P/E ratio of 71.05 and a beta of 0.97. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. 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 50-day moving average of $33.32 and a 200 day moving average of $33.48.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 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%. As a group, research analysts forecast that Sandy Spring Bancorp, Inc. will post 2.48 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $1.36 annualized dividend and a yield of 4.25%. 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.