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

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

Sandy Spring Bancorp Stock Down 2.8 %

Shares of Sandy Spring Bancorp stock opened at $32.77 on Friday. 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 has a 12-month low of $19.52 and a 12-month high of $39.55. The firm has a market capitalization of $1.48 billion, a PE ratio of 17.25 and a beta of 0.96. The stock’s fifty day moving average is $35.96 and its 200-day moving average is $31.59.

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 firm had revenue of $189.81 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.62 earnings per share. Equities analysts anticipate that Sandy Spring Bancorp will post 1.85 earnings per share for the current year.

Institutional Trading of Sandy Spring Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Sandy Spring Bancorp by 1,199.7% in the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock valued at $16,927,000 after buying an additional 641,402 shares during the period. Franklin Resources Inc. grew its holdings in shares of Sandy Spring Bancorp by 93.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock valued at $41,235,000 after acquiring an additional 615,591 shares in the last quarter. Basswood Capital Management L.L.C. increased its stake in shares of Sandy Spring Bancorp by 2,164.4% in the third quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank’s stock worth $14,709,000 after acquiring an additional 448,184 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Sandy Spring Bancorp in the third quarter worth $7,438,000. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new stake in shares of Sandy Spring Bancorp during the second quarter worth $4,778,000. 66.90% of the stock is owned by hedge funds and other 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.