Sandy Spring Bancorp (NASDAQ:SASR) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report published on Tuesday morning. The firm issued a sell rating on the bank’s stock.

Sandy Spring Bancorp Price Performance

NASDAQ SASR opened at $27.87 on Tuesday. Sandy Spring Bancorp has a one year low of $19.52 and a one year high of $39.55. The stock has a 50-day moving average of $31.51 and a 200 day moving average of $33.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. On average, sell-side analysts forecast that Sandy Spring Bancorp will post 2.48 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 12th. This represents a $1.36 dividend on an annualized basis and a yield of 4.88%. Sandy Spring Bancorp’s dividend payout ratio is presently 302.22%.

Hedge Funds Weigh In On Sandy Spring Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC increased its position in Sandy Spring Bancorp by 1.8% during the fourth quarter. LPL Financial LLC now owns 16,987 shares of the bank’s stock valued at $573,000 after acquiring an additional 297 shares during the last quarter. Tritonpoint Wealth LLC boosted its position in Sandy Spring Bancorp by 1.5% in the fourth quarter. Tritonpoint Wealth LLC now owns 20,119 shares of the bank’s stock worth $678,000 after purchasing an additional 302 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Sandy Spring Bancorp by 1.4% during the 4th quarter. Cerity Partners LLC now owns 26,583 shares of the bank’s stock valued at $895,000 after purchasing an additional 374 shares during the period. Tidal Investments LLC increased its position in shares of Sandy Spring Bancorp by 1.5% during the 4th quarter. Tidal Investments LLC now owns 27,940 shares of the bank’s stock valued at $942,000 after purchasing an additional 409 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sandy Spring Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,986 shares of the bank’s stock worth $842,000 after purchasing an additional 874 shares during the period. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

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.