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

StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the bank’s stock.

Sandy Spring Bancorp Trading Up 1.0 %

SASR traded up $0.27 during trading hours on Wednesday, reaching $27.87. 2,059,482 shares of the company’s stock traded hands, compared to its average volume of 334,953. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $30.62 and a 200 day moving average price of $33.02. Sandy Spring Bancorp has a 52-week low of $19.52 and a 52-week high of $39.55. The firm has a market capitalization of $1.26 billion, a PE ratio of 61.93 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its 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 net margin of 2.65% and a return on equity of 5.31%. As a group, sell-side analysts predict that Sandy Spring Bancorp will post 2.48 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio is presently 302.22%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vestcor Inc purchased a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth $37,000. Sterling Capital Management LLC lifted its stake in Sandy Spring Bancorp by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock worth $47,000 after acquiring an additional 1,256 shares during the period. Family Firm Inc. bought a new position in Sandy Spring Bancorp during the 4th quarter worth about $204,000. Stifel Financial Corp bought a new position in Sandy Spring Bancorp during the 3rd quarter worth about $217,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Sandy Spring Bancorp in the 4th quarter valued at about $228,000. Institutional investors own 66.90% of the company’s stock.

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.