Proficio Capital Partners LLC Takes Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Proficio Capital Partners LLC acquired a new position in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the 4th quarter, HoldingsChannel reports. The firm acquired 18,473 shares of the bank’s stock, valued at approximately $623,000.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC acquired a new position in Sandy Spring Bancorp in the third quarter valued at approximately $314,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after buying an additional 75,596 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Sandy Spring Bancorp by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 679,924 shares of the bank’s stock valued at $21,329,000 after purchasing an additional 11,117 shares during the period. Cerity Partners LLC lifted its position in shares of Sandy Spring Bancorp by 3.3% during the 3rd quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock valued at $822,000 after acquiring an additional 832 shares during the period. Finally, Associated Banc Corp acquired a new stake in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $249,000. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $28.82 on Monday. Sandy Spring Bancorp, Inc. has a 12 month low of $19.52 and a 12 month high of $39.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $1.30 billion, a P/E ratio of 64.05 and a beta of 0.96. The company’s fifty day moving average price is $32.23 and its two-hundred day moving average price is $33.44.

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 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, research analysts anticipate that Sandy Spring Bancorp, Inc. will post 2.48 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Wednesday, February 12th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio is presently 302.22%.

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.