Investment analysts at StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) in a research note issued on Sunday. The brokerage set a "sell" rating on the bank's stock.
Sandy Spring Bancorp Trading Up 0.6 %
Shares of SASR stock traded up $0.21 on Friday, hitting $33.87. The stock had a trading volume of 156,464 shares, compared to its average volume of 211,445. 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 twelve month low of $19.52 and a twelve month high of $39.55. The company has a fifty day moving average price of $35.54 and a two-hundred day moving average price of $32.38. The firm has a market cap of $1.53 billion, a P/E ratio of 17.83 and a beta of 0.98.
Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). The business had revenue of $189.81 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.62 earnings per share. As a group, analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sandy Spring Bancorp
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Sandy Spring Bancorp in the third quarter valued at about $29,000. SG Americas Securities LLC acquired a new stake in Sandy Spring Bancorp in the 3rd quarter valued at approximately $170,000. Stifel Financial Corp acquired a new stake in Sandy Spring Bancorp in the 3rd quarter valued at approximately $217,000. CWM LLC lifted its stake in Sandy Spring Bancorp by 27.4% in the 3rd quarter. CWM LLC now owns 7,086 shares of the bank's stock valued at $222,000 after acquiring an additional 1,525 shares in the last quarter. Finally, Associated Banc Corp acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth approximately $249,000. 66.90% of the stock is 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.
Featured Stories
Before you consider Sandy Spring Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sandy Spring Bancorp wasn't on the list.
While Sandy Spring Bancorp currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
