StockNews.com Begins Coverage on Sandy Spring Bancorp (NASDAQ:SASR)

Stock analysts at StockNews.com initiated coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a note issued to investors on Friday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Trading Up 0.6 %

Sandy Spring Bancorp stock opened at $32.96 on Friday. The business’s 50-day simple moving average is $35.97 and its 200-day simple moving average is $31.73. Sandy Spring Bancorp has a 52 week low of $19.52 and a 52 week high of $39.55. The firm has a market capitalization of $1.49 billion, a PE ratio of 17.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The company had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. During the same quarter in the previous year, the business posted $0.62 EPS. Equities research analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.

Institutional Trading of Sandy Spring Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Sandy Spring Bancorp in the 3rd quarter valued at $29,000. Meeder Asset Management Inc. acquired a new position in shares of Sandy Spring Bancorp in the 2nd quarter worth approximately $117,000. SG Americas Securities LLC acquired a new stake in Sandy Spring Bancorp in the 3rd quarter valued at $170,000. Stifel Financial Corp bought a new stake in Sandy Spring Bancorp in the third quarter valued at $217,000. Finally, CWM LLC lifted its holdings in shares of Sandy Spring Bancorp by 27.4% during the third quarter. CWM LLC now owns 7,086 shares of the bank’s stock valued at $222,000 after acquiring an additional 1,525 shares during the period. 66.90% of the stock is currently owned by institutional investors.

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.