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

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

Sandy Spring Bancorp Trading Down 0.3 %

NASDAQ:SASR opened at $33.23 on Wednesday. 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 has a 1-year low of $19.52 and a 1-year high of $39.55. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.49 and a beta of 0.96. The business’s 50-day moving average price is $35.69 and its two-hundred day moving average price is $30.81.

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). The firm had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities analysts expect that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carmichael Hill & Associates Inc. increased its holdings in shares of Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock worth $287,000 after acquiring an additional 412 shares in the last quarter. First National Trust Co increased its stake in Sandy Spring Bancorp by 5.2% during the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after purchasing an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Sandy Spring Bancorp by 2.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after purchasing an additional 609 shares in the last quarter. Cerity Partners LLC raised its holdings in Sandy Spring Bancorp by 3.3% during 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 during the period. Finally, Capital Performance Advisors LLP bought a new position in Sandy Spring Bancorp in the third quarter valued at approximately $29,000. 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.