StockNews.com Initiates Coverage on Sandy Spring Bancorp (NASDAQ:SASR)

StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Down 0.3 %

Shares of Sandy Spring Bancorp stock opened at $33.23 on Wednesday. The firm has a market cap of $1.50 billion, a PE ratio of 17.49 and a beta of 0.96. The business’s 50 day simple moving average is $35.69 and its 200 day simple moving average is $30.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. Sandy Spring Bancorp has a 52-week low of $19.52 and a 52-week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued 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). The business had revenue of $189.81 million for the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. During the same period in the prior year, the business earned $0.62 earnings per share. On average, analysts predict that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandy Spring Bancorp

Several hedge funds have recently modified their holdings of SASR. Carmichael Hill & Associates Inc. raised its holdings in Sandy Spring Bancorp by 3.6% during 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 grew its stake in Sandy Spring Bancorp by 5.2% in the third quarter. First National Trust Co now owns 10,050 shares of the bank’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of 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 during the last quarter. Cerity Partners LLC raised its stake in shares of 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 purchasing an additional 832 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at approximately $29,000. 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.