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

StockNews.com assumed coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report issued on Sunday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Trading Up 0.6 %

Sandy Spring Bancorp stock opened at $33.87 on Friday. The stock has a market cap of $1.53 billion, a P/E ratio of 17.83 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. The firm’s fifty day moving average price is $35.45 and its 200-day moving average price is $32.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly 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 during the quarter, compared to analysts’ expectations of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. During the same period in the previous year, the business earned $0.62 EPS. Equities research analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Trading of Sandy Spring Bancorp

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of Sandy Spring Bancorp by 140.6% during the 4th quarter. SG Americas Securities LLC now owns 13,004 shares of the bank’s stock valued at $438,000 after purchasing an additional 7,600 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Sandy Spring Bancorp by 96.9% in the third quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after buying an additional 34,735 shares in the last quarter. Franklin Resources Inc. boosted its stake in Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after buying an additional 615,591 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sandy Spring Bancorp by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock worth $33,654,000 after acquiring an additional 35,271 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Sandy Spring Bancorp by 36.8% in the 3rd quarter. Barclays PLC now owns 119,799 shares of the bank’s stock worth $3,759,000 after acquiring an additional 32,223 shares during the last quarter. 66.90% of the stock is owned by institutional investors.

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.