Sandy Spring Bancorp (NASDAQ:SASR) Earns Sell Rating from Analysts at StockNews.com

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

Sandy Spring Bancorp Stock Performance

SASR stock opened at $37.68 on Monday. The firm has a 50 day moving average of $34.18 and a two-hundred day moving average of $29.56. Sandy Spring Bancorp has a 12 month low of $19.52 and a 12 month high of $39.55. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.83 and a beta of 0.94. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts anticipate that Sandy Spring Bancorp will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after purchasing an additional 2,073 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Sandy Spring Bancorp in the second quarter valued at about $205,000. Wealth Enhancement Advisory Services LLC grew its position in Sandy Spring Bancorp by 2.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after buying an additional 723 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Sandy Spring Bancorp by 69.1% during the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock valued at $3,628,000 after acquiring an additional 60,850 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Sandy Spring Bancorp by 36.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,050 shares of the bank’s stock valued at $513,000 after acquiring an additional 5,600 shares in the last quarter. 66.90% of the stock is owned by institutional investors and hedge funds.

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.