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

Equities researchers at StockNews.com initiated coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued on Friday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Performance

Sandy Spring Bancorp stock opened at $32.96 on Friday. Sandy Spring Bancorp has a 12-month low of $19.52 and a 12-month high of $39.55. The stock has a 50-day simple moving average of $35.97 and a 200 day simple moving average of $31.73. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 17.35 and a beta of 0.98.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data 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 company had revenue of $189.81 million during 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 last year, the firm earned $0.62 EPS. On average, research analysts anticipate that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several institutional investors have recently modified their holdings of SASR. First National Trust Co raised its position in shares of Sandy Spring Bancorp by 5.2% during the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank’s stock valued at $315,000 after acquiring an additional 500 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sandy Spring Bancorp by 2.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after buying an additional 609 shares during the last quarter. Cerity Partners LLC grew its position 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 period. Capital Performance Advisors LLP bought a new stake in shares of Sandy Spring Bancorp in the 3rd quarter valued at about $29,000. Finally, Truist Financial Corp boosted its stake in Sandy Spring Bancorp by 2.6% during the 2nd quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock worth $1,065,000 after acquiring an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

About Sandy Spring Bancorp

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.