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

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

Sandy Spring Bancorp Stock Performance

NASDAQ:SASR opened at $35.40 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $35.61 and a 200-day moving average of $30.77. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 18.63 and a beta of 0.96.

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). The business had revenue of $189.81 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.62 EPS. Analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in Sandy Spring Bancorp by 1,199.7% in the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock worth $16,927,000 after buying an additional 641,402 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after acquiring an additional 615,591 shares during the last quarter. Basswood Capital Management L.L.C. raised its holdings in shares of Sandy Spring Bancorp by 2,164.4% during the third quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank’s stock worth $14,709,000 after acquiring an additional 448,184 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Sandy Spring Bancorp during the third quarter valued at $7,438,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in Sandy Spring Bancorp during the second quarter valued at $4,778,000. Hedge funds and other 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.