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

Investment 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 Down 2.4 %

SASR opened at $33.76 on Thursday. Sandy Spring Bancorp has a one year low of $19.52 and a one year high of $39.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $1.52 billion, a P/E ratio of 17.77 and a beta of 0.96. The business’s 50-day simple moving average is $35.86 and its 200-day simple moving average is $31.29.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The firm had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. During the same period last year, the firm earned $0.62 EPS. Analysts anticipate that Sandy Spring Bancorp will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SASR. Victory Capital Management Inc. grew its holdings in shares of Sandy Spring Bancorp by 1,199.7% during the second quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock worth $16,927,000 after buying an additional 641,402 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Sandy Spring Bancorp by 93.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock valued at $41,235,000 after purchasing an additional 615,591 shares during the last quarter. Basswood Capital Management L.L.C. increased its holdings in shares of Sandy Spring Bancorp by 2,164.4% in the third quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank’s stock valued at $14,709,000 after purchasing an additional 448,184 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Sandy Spring Bancorp during the third quarter worth approximately $7,438,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in shares of Sandy Spring Bancorp during the second quarter worth $4,778,000. 66.90% of the stock is currently owned by institutional investors and hedge funds.

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.