Skandinaviska Enskilda Banken AB publ Takes Position in Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,500 shares of the bank’s stock, valued at approximately $1,094,000. Skandinaviska Enskilda Banken AB publ owned approximately 0.07% of Sandy Spring Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tritonpoint Wealth LLC boosted its stake in Sandy Spring Bancorp by 1.5% during the 4th quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock valued at $678,000 after purchasing an additional 302 shares during the last quarter. Cerity Partners LLC increased its holdings in Sandy Spring Bancorp by 3.3% in the 3rd quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock worth $822,000 after buying an additional 832 shares in the last quarter. Vestcor Inc bought a new stake in Sandy Spring Bancorp in the 4th quarter worth about $37,000. BNP Paribas Financial Markets lifted its stake in Sandy Spring Bancorp by 13.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,985 shares of the bank’s stock valued at $470,000 after acquiring an additional 1,788 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Sandy Spring Bancorp by 66.2% in the third quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank’s stock worth $249,000 after acquiring an additional 3,168 shares during the period. Institutional investors own 66.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sandy Spring Bancorp Stock Up 0.9 %

SASR stock opened at $29.38 on Tuesday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 65.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day moving average is $32.45 and its two-hundred day moving average is $33.49. Sandy Spring Bancorp, Inc. has a fifty-two week low of $19.52 and a fifty-two week high of $39.55.

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 net margin of 2.65% and a return on equity of 5.31%. As a group, analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio is presently 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.