Sandy Spring Bancorp (NASDAQ:SASR) Coverage Initiated by Analysts at StockNews.com

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

Sandy Spring Bancorp Stock Up 0.5 %

NASDAQ SASR opened at $37.68 on Monday. Sandy Spring Bancorp has a 1-year low of $19.52 and a 1-year high of $39.55. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.83 and a beta of 0.94. The stock’s 50 day moving average is $34.18 and its two-hundred day moving average is $29.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50.

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

Institutional Trading of Sandy Spring Bancorp

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Sandy Spring Bancorp by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank’s stock valued at $60,182,000 after buying an additional 108,703 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Sandy Spring Bancorp by 93.9% in 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Sandy Spring Bancorp by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock worth $33,654,000 after acquiring an additional 35,271 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of Sandy Spring Bancorp by 13.4% during the third quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank’s stock worth $32,161,000 after purchasing an additional 120,793 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Sandy Spring Bancorp by 17.4% during the third quarter. Wellington Management Group LLP now owns 819,475 shares of the bank’s stock valued at $25,707,000 after purchasing an additional 121,574 shares during the last quarter. 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.