Sandy Spring Bancorp (NASDAQ:SASR) Coverage Initiated at StockNews.com

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

Sandy Spring Bancorp Stock Performance

Shares of SASR opened at $33.87 on Friday. Sandy Spring Bancorp has a 1 year low of $19.52 and a 1 year high of $39.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $35.45 and its two-hundred day moving average price is $32.50. The firm has a market cap of $1.53 billion, a PE ratio of 17.83 and a beta of 0.98.

Sandy Spring Bancorp (NASDAQ:SASR) last announced 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 during 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 period last year, the business posted $0.62 EPS. On average, equities research analysts forecast that Sandy Spring Bancorp will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SASR. First National Trust Co lifted its position in shares of Sandy Spring Bancorp by 5.2% during the third quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after acquiring an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sandy Spring Bancorp by 2.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock valued at $818,000 after purchasing an additional 609 shares during the period. Cerity Partners LLC lifted its holdings in Sandy Spring Bancorp by 3.3% during the 3rd quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock worth $822,000 after purchasing an additional 832 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Sandy Spring Bancorp in the 3rd quarter worth about $29,000. Finally, Truist Financial Corp grew its holdings in Sandy Spring Bancorp by 2.6% during the 2nd quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after buying an additional 1,104 shares in the last quarter. 66.90% of the stock is owned by 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.