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

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

Sandy Spring Bancorp Trading Up 0.7 %

Shares of Sandy Spring Bancorp stock opened at $34.19 on Thursday. The firm’s 50-day moving average price is $35.80 and its two-hundred day moving average price is $31.18. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 17.99 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 has a 12-month low of $19.52 and a 12-month high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results 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 firm had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. During the same quarter in the prior year, the business posted $0.62 EPS. On average, analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandy Spring Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of Sandy Spring Bancorp by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 384,726 shares of the bank’s stock valued at $9,372,000 after acquiring an additional 5,324 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Sandy Spring Bancorp in the 2nd quarter valued at about $105,000. Commonwealth Equity Services LLC lifted its stake in shares of Sandy Spring Bancorp by 9.8% in the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock worth $321,000 after acquiring an additional 1,176 shares during the period. Rhumbline Advisers boosted its holdings in Sandy Spring Bancorp by 3.2% in the second quarter. Rhumbline Advisers now owns 74,906 shares of the bank’s stock valued at $1,825,000 after acquiring an additional 2,325 shares during the last quarter. Finally, First National Trust Co bought a new position in Sandy Spring Bancorp during the 2nd quarter worth approximately $233,000. Institutional investors 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.