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

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

Sandy Spring Bancorp Stock Performance

SASR opened at $33.83 on Thursday. The business’s 50 day moving average is $33.78 and its 200-day moving average is $33.29. The stock has a market cap of $1.53 billion, a PE ratio of 75.18 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Sandy Spring Bancorp has a twelve month low of $19.52 and a twelve month high of $39.55.

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 net margin of 2.65% and a return on equity of 5.31%. On average, analysts predict that Sandy Spring Bancorp will post 2.48 earnings per share for the current year.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the third quarter worth approximately $170,000. Creative Planning raised its holdings in Sandy Spring Bancorp by 11.9% during the third quarter. Creative Planning now owns 66,208 shares of the bank’s stock worth $2,077,000 after purchasing an additional 7,024 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sandy Spring Bancorp by 2.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock worth $818,000 after purchasing an additional 609 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Sandy Spring Bancorp by 231.1% during the third quarter. Nisa Investment Advisors LLC now owns 11,748 shares of the bank’s stock worth $369,000 after purchasing an additional 8,200 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Sandy Spring Bancorp by 55.3% during the third quarter. Pinnacle Associates Ltd. now owns 17,487 shares of the bank’s stock worth $549,000 after purchasing an additional 6,224 shares in the last quarter. Institutional investors own 66.90% of the company’s stock.

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.