Sandy Spring Bancorp (NASDAQ:SASR) Coverage Initiated by Analysts at StockNews.com

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

Sandy Spring Bancorp Price Performance

Shares of Sandy Spring Bancorp stock opened at $33.73 on Monday. The company has a 50-day simple moving average of $35.02 and a two-hundred day simple moving average of $32.81. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.75 and a beta of 0.98. 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 Dividend Announcement

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

Hedge Funds Weigh In On Sandy Spring Bancorp

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

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.