StoneX Group Inc. Invests $796,000 in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

StoneX Group Inc. bought a new stake in Sandy Spring Bancorp, Inc. (NASDAQ:SASR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,605 shares of the bank’s stock, valued at approximately $796,000. StoneX Group Inc. owned about 0.05% of Sandy Spring Bancorp as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new position in shares of Sandy Spring Bancorp during the 4th quarter valued at about $21,212,000. Franklin Resources Inc. raised its stake in shares of Sandy Spring Bancorp by 93.9% during the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after acquiring an additional 615,591 shares in the last quarter. Stieven Capital Advisors L.P. lifted its holdings in shares of Sandy Spring Bancorp by 133.6% in the 4th quarter. Stieven Capital Advisors L.P. now owns 365,391 shares of the bank’s stock worth $12,317,000 after acquiring an additional 209,000 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Sandy Spring Bancorp in the 4th quarter valued at $5,713,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at $4,797,000. Institutional investors own 66.90% of the company’s stock.

Analysts Set New Price Targets

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

Sandy Spring Bancorp Stock Up 1.0 %

Shares of NASDAQ SASR opened at $27.87 on Thursday. The firm’s fifty day moving average is $31.39 and its 200 day moving average is $33.26. Sandy Spring Bancorp, Inc. has a 52 week low of $19.52 and a 52 week high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) 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%. On average, equities research analysts expect that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were given a $0.34 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.88%. Sandy Spring Bancorp’s dividend payout ratio is currently 302.22%.

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.