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

StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) in a note issued to investors on Saturday. The brokerage set a "sell" rating on the bank's stock.

Sandy Spring Bancorp Stock Performance

Sandy Spring Bancorp stock traded down $1.27 during midday trading on Friday, hitting $30.94. 710,865 shares of the company were exchanged, compared to its average volume of 304,828. The business has a fifty day simple moving average of $35.79 and a two-hundred day simple moving average of $32.04. 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 firm has a market capitalization of $1.40 billion, a PE ratio of 16.28 and a beta of 0.98. Sandy Spring Bancorp has a fifty-two week low of $19.52 and a fifty-two week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. During the same period in the previous year, the business earned $0.62 EPS. On average, sell-side analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.

Institutional Trading of Sandy Spring Bancorp

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Sandy Spring Bancorp by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank's stock valued at $60,182,000 after acquiring an additional 108,703 shares during the period. Franklin Resources Inc. lifted its holdings in Sandy Spring Bancorp by 93.9% during the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank's stock valued at $41,235,000 after purchasing an additional 615,591 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Sandy Spring Bancorp by 3.4% in the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank's stock valued at $33,654,000 after purchasing an additional 35,271 shares during the period. Systematic Financial Management LP increased its stake in shares of Sandy Spring Bancorp by 13.4% during the third quarter. Systematic Financial Management LP now owns 1,025,227 shares of the bank's stock worth $32,161,000 after purchasing an additional 120,793 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Sandy Spring Bancorp by 17.4% during the 3rd quarter. Wellington Management Group LLP now owns 819,475 shares of the bank's stock worth $25,707,000 after purchasing an additional 121,574 shares during the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.

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.