Equities researchers at StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) in a research note issued on Tuesday. The brokerage set a "sell" rating on the bank's stock.
Sandy Spring Bancorp Price Performance
Shares of SASR stock traded down $0.23 during mid-day trading on Tuesday, reaching $37.31. The stock had a trading volume of 183,369 shares, compared to its average volume of 342,286. The company has a market cap of $1.68 billion, a P/E ratio of 19.62 and a beta of 0.96. 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 12-month low of $19.52 and a 12-month high of $39.55. The business has a 50-day simple moving average of $34.93 and a 200 day simple moving average of $30.19.
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 net margin of 11.54% and a return on equity of 5.71%. The business had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. During the same period in the previous year, the company posted $0.62 earnings per share. On average, sell-side analysts anticipate that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.
Hedge Funds Weigh In On Sandy Spring Bancorp
A number of institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Sandy Spring Bancorp during the third quarter valued at $29,000. Hantz Financial Services Inc. purchased a new stake in shares of Sandy Spring Bancorp during the second quarter worth about $105,000. Meeder Asset Management Inc. acquired a new position in shares of Sandy Spring Bancorp in the second quarter valued at approximately $117,000. CWM LLC raised its position in shares of Sandy Spring Bancorp by 59.4% in the second quarter. CWM LLC now owns 5,561 shares of the bank's stock valued at $135,000 after buying an additional 2,073 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Sandy Spring Bancorp during the second quarter valued at approximately $144,000. 66.90% of the stock is owned by institutional investors and hedge funds.
Sandy Spring Bancorp Company Profile
(
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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