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

Equities research analysts at StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued on Saturday. The firm set a “sell” rating on the bank’s stock.

SASR has been the subject of several other reports. Keefe, Bruyette & Woods increased their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. DA Davidson increased their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Sandy Spring Bancorp currently has a consensus rating of “Hold” and an average price target of $28.25.

Sandy Spring Bancorp Price Performance

Shares of SASR opened at $37.63 on Friday. The business’s fifty day moving average is $33.09 and its 200 day moving average is $28.54. Sandy Spring Bancorp has a 12-month low of $19.52 and a 12-month high of $39.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a market cap of $1.70 billion, a P/E ratio of 19.81 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data 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 business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same period last year, the business posted $0.62 earnings per share. Sell-side analysts anticipate that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Trading of Sandy Spring Bancorp

A number of hedge funds have recently bought and sold shares of SASR. Capital Performance Advisors LLP bought a new position in Sandy Spring Bancorp in the 3rd quarter valued at $29,000. EntryPoint Capital LLC purchased a new position in shares of Sandy Spring Bancorp in the 1st quarter worth about $98,000. Hantz Financial Services Inc. bought a new position in Sandy Spring Bancorp during the second quarter valued at about $105,000. Meeder Asset Management Inc. purchased a new stake in Sandy Spring Bancorp during the second quarter worth about $117,000. Finally, SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp in the first quarter worth about $122,000. 66.90% of the stock is currently owned by 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.