Sandy Spring Bancorp (NASDAQ:SASR) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) in a note issued to investors on Sunday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Performance

SASR stock opened at $33.87 on Friday. The stock’s 50 day simple moving average is $35.54 and its 200 day simple moving average is $32.38. 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 12-month low of $19.52 and a 12-month high of $39.55. The stock has a market capitalization of $1.53 billion, a PE ratio of 17.83 and a beta of 0.98.

Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.40 earnings per share 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 business had revenue of $189.81 million during the quarter, compared to analysts’ expectations of $101.60 million. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, research 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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Sandy Spring Bancorp during the third quarter valued at $29,000. SG Americas Securities LLC purchased a new stake in shares of Sandy Spring Bancorp during the 3rd quarter valued at about $170,000. Stifel Financial Corp bought a new position in shares of Sandy Spring Bancorp in the 3rd quarter worth approximately $217,000. CWM LLC lifted its stake in shares of Sandy Spring Bancorp by 27.4% in the 3rd quarter. CWM LLC now owns 7,086 shares of the bank’s stock worth $222,000 after purchasing an additional 1,525 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Sandy Spring Bancorp by 66.2% in the third quarter. Meeder Asset Management Inc. now owns 7,952 shares of the bank’s stock worth $249,000 after buying an additional 3,168 shares during the last quarter. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

About Sandy Spring Bancorp

(Get Free Report)

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.

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