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

Research analysts at StockNews.com assumed coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Up 1.0 %

NASDAQ:SASR opened at $27.87 on Tuesday. Sandy Spring Bancorp has a 52 week low of $19.52 and a 52 week high of $39.55. The stock’s fifty day moving average is $31.39 and its two-hundred day moving average is $33.26. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96. 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 (NASDAQ:SASR) last posted its earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. Research analysts anticipate that Sandy Spring Bancorp will post 2.48 EPS for the current year.

Hedge Funds Weigh In On Sandy Spring Bancorp

Several institutional investors have recently modified their holdings of the business. Magnetar Financial LLC purchased a new position in Sandy Spring Bancorp in the fourth quarter valued at $21,212,000. Franklin Resources Inc. boosted its stake in shares of Sandy Spring Bancorp by 93.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock valued at $41,235,000 after buying an additional 615,591 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Sandy Spring Bancorp by 267.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 665,583 shares of the bank’s stock worth $22,437,000 after buying an additional 484,514 shares in the last quarter. AQR Arbitrage LLC purchased a new stake in shares of Sandy Spring Bancorp during the fourth quarter worth approximately $13,492,000. Finally, Millennium Management LLC acquired a new stake in Sandy Spring Bancorp in the fourth quarter valued at approximately $13,221,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

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.