StockNews.com Initiates Coverage on Sandy Spring Bancorp (NASDAQ:SASR)

Equities researchers at StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued to investors on Monday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Down 0.3 %

SASR stock opened at $32.75 on Monday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 17.24 and a beta of 0.98. Sandy Spring Bancorp has a 52 week low of $19.52 and a 52 week high of $39.55. The firm has a 50-day simple moving average of $35.09 and a 200-day simple moving average of $32.77. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50.

Institutional Investors Weigh In On Sandy Spring Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Sandy Spring Bancorp during the 3rd quarter valued at about $29,000. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp in the third quarter valued at $170,000. Stifel Financial Corp purchased a new position in Sandy Spring Bancorp in the third quarter valued at $217,000. CWM LLC grew its stake in Sandy Spring Bancorp by 27.4% during the 3rd quarter. CWM LLC now owns 7,086 shares of the bank’s stock worth $222,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Associated Banc Corp purchased a new stake in Sandy Spring Bancorp during the 3rd quarter worth about $249,000. 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.