StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) in a report released on Monday. The brokerage set a "sell" rating on the bank's stock.
Sandy Spring Bancorp Price Performance
SASR traded down $0.19 during midday trading on Monday, hitting $28.49. 293,735 shares of the company traded hands, compared to its average volume of 317,345. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 63.31 and a beta of 0.96. The business has a 50 day simple moving average of $31.99 and a two-hundred day simple moving average of $33.38. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. 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 issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. On average, equities analysts forecast that Sandy Spring Bancorp will post 2.48 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Sandy Spring Bancorp during the 3rd quarter worth $314,000. Massachusetts Financial Services Co. MA boosted its holdings in Sandy Spring Bancorp by 10.3% in the 3rd 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. Charles Schwab Investment Management Inc. grew its stake in shares of Sandy Spring Bancorp by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 679,924 shares of the bank's stock valued at $21,329,000 after buying an additional 11,117 shares during the period. Cerity Partners LLC increased its holdings 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 buying an additional 832 shares during the last quarter. Finally, Associated Banc Corp acquired a new position in Sandy Spring Bancorp in the third quarter valued at approximately $249,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.
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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