Sandy Spring Bancorp (NASDAQ:SASR) Now Covered by StockNews.com

Analysts at StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $33.08 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. Sandy Spring Bancorp has a 12 month low of $19.52 and a 12 month high of $39.55. The firm’s fifty day simple moving average is $34.62 and its 200-day simple moving average is $32.99. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 73.51 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.47 earnings per share (EPS) 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%. As a group, equities analysts forecast that Sandy Spring Bancorp will post 2.51 earnings per share for the current year.

Institutional Trading of Sandy Spring Bancorp

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Sandy Spring Bancorp by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,438 shares of the bank’s stock worth $571,000 after buying an additional 1,774 shares during the last quarter. Creative Planning raised its position in Sandy Spring Bancorp by 4.8% during the second quarter. Creative Planning now owns 59,184 shares of the bank’s stock worth $1,442,000 after acquiring an additional 2,701 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Sandy Spring Bancorp by 2.6% in the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after purchasing an additional 1,104 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp in the third quarter valued at approximately $170,000. Finally, CWM LLC increased its stake in shares of 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. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

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.