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

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

Sandy Spring Bancorp Trading Down 0.9 %

NASDAQ:SASR opened at $37.76 on Monday. The stock’s 50 day moving average price is $34.30 and its 200 day moving average price is $29.70. The company has a market capitalization of $1.70 billion, a PE ratio of 19.95 and a beta of 0.96. Sandy Spring Bancorp has a 52-week low of $19.52 and a 52-week high of $39.55. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data 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 net margin of 11.54% and a return on equity of 5.71%. The company had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. During the same period in the prior year, the company earned $0.62 earnings per share. On average, research analysts anticipate that Sandy Spring Bancorp will post 1.85 EPS for the current year.

Hedge Funds Weigh In On Sandy Spring Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in SASR. Carmichael Hill & Associates Inc. increased its holdings in Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after buying an additional 412 shares in the last quarter. First National Trust Co increased its stake in shares of Sandy Spring Bancorp by 5.2% during the 3rd quarter. First National Trust Co now owns 10,050 shares of the bank’s stock worth $315,000 after purchasing an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased 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 worth $818,000 after purchasing an additional 609 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Sandy Spring Bancorp by 3.3% in the third quarter. Cerity Partners LLC now owns 26,209 shares of the bank’s stock worth $822,000 after acquiring an additional 832 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Sandy Spring Bancorp in the third quarter valued at $29,000. 66.90% of the stock is owned by institutional investors and hedge funds.

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.