Sandy Spring Bancorp (NASDAQ:SASR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report released on Monday. The brokerage issued a sell rating on the bank’s stock.

Sandy Spring Bancorp Stock Up 3.0 %

Shares of NASDAQ SASR opened at $33.73 on Monday. The stock has a 50-day moving average price of $35.02 and a two-hundred day moving average price of $32.81. Sandy Spring Bancorp 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 company has a market cap of $1.52 billion, a price-to-earnings ratio of 17.75 and a beta of 0.98.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.34 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.36 dividend on an annualized basis and a yield of 4.03%. Sandy Spring Bancorp’s dividend payout ratio is currently 71.58%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Sandy Spring Bancorp by 96.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock valued at $2,215,000 after acquiring an additional 34,735 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Sandy Spring Bancorp by 10.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after purchasing an additional 75,596 shares in the last quarter. AQR Capital Management LLC raised its position in Sandy Spring Bancorp by 5.7% in the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock valued at $11,528,000 after purchasing an additional 25,546 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sandy Spring Bancorp by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after purchasing an additional 35,271 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Sandy Spring Bancorp by 368.2% during the second quarter. Algert Global LLC now owns 64,419 shares of the bank’s stock worth $1,569,000 after purchasing an additional 50,659 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors and hedge funds.

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.