StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) in a research note issued to investors on Saturday. The firm set a "sell" rating on the bank's stock.
Sandy Spring Bancorp Stock Performance
Shares of NASDAQ SASR traded down $0.44 during midday trading on Friday, reaching $29.38. 2,406 shares of the company traded hands, compared to its average volume of 231,852. The stock has a 50-day moving average price of $32.96 and a 200 day moving average price of $33.57. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 65.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Sandy Spring Bancorp had a net margin of 2.65% and a return on equity of 5.31%. Sell-side analysts anticipate that Sandy Spring Bancorp will post 2.48 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Sandy Spring Bancorp
Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Sandy Spring Bancorp by 96.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank's stock valued at $2,215,000 after purchasing an additional 34,735 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Sandy Spring Bancorp by 10.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank's stock valued at $25,345,000 after purchasing an additional 75,596 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in Sandy Spring Bancorp by 1,296.9% during the fourth quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank's stock worth $424,000 after buying an additional 11,672 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $33,654,000 after buying an additional 35,271 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new position in Sandy Spring Bancorp in the fourth quarter worth approximately $2,989,000. 66.90% of the stock is currently owned by institutional investors.
About Sandy Spring Bancorp
(
Get Free Report)
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.
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