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

Stock analysts at StockNews.com initiated coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report issued on Monday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Down 1.9 %

SASR stock opened at $29.07 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $1.31 billion, a P/E ratio of 64.60 and a beta of 0.96. Sandy Spring Bancorp has a fifty-two week low of $19.52 and a fifty-two week high of $39.55. The business has a 50-day moving average of $32.10 and a 200-day moving average of $33.41.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share 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, sell-side analysts anticipate that Sandy Spring Bancorp will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandy Spring Bancorp

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Sandy Spring Bancorp by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after acquiring an additional 34,735 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Sandy Spring Bancorp by 10.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock worth $25,345,000 after purchasing an additional 75,596 shares in the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Sandy Spring Bancorp by 1,296.9% in the 4th quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock valued at $424,000 after buying an additional 11,672 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sandy Spring Bancorp by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock valued at $33,654,000 after buying an additional 35,271 shares during the last quarter. Finally, New York Life Investment Management LLC bought a new position in shares of Sandy Spring Bancorp in the fourth quarter valued at $2,989,000. Institutional investors 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.