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

Investment analysts at StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report released on Sunday. The brokerage set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Price Performance

SASR opened at $27.87 on Friday. The firm has a 50-day moving average price of $28.26 and a 200-day moving average price of $32.40. 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 has a twelve month low of $21.37 and a twelve month high of $39.55. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.93 and a beta of 0.96.

Institutional Investors Weigh In On Sandy Spring Bancorp

Hedge funds have recently bought and sold shares of the stock. Vestcor Inc bought a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $37,000. Sterling Capital Management LLC boosted its holdings in shares of Sandy Spring Bancorp by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock valued at $47,000 after buying an additional 1,256 shares in the last quarter. KBC Group NV bought a new stake in shares of Sandy Spring Bancorp during the 1st quarter valued at $89,000. Nisa Investment Advisors LLC boosted its holdings in shares of Sandy Spring Bancorp by 12.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $112,000 after buying an additional 445 shares in the last quarter. Finally, Bessemer Group Inc. bought a new position in Sandy Spring Bancorp in the 1st quarter worth about $132,000. 66.90% of the stock is currently 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.