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

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

Sandy Spring Bancorp Trading Up 1.0%

SASR stock opened at $27.87 on Friday. The firm has a fifty day moving average price of $28.26 and a 200 day moving average price of $32.40. Sandy Spring Bancorp has a fifty-two week low of $21.37 and a fifty-two week 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 firm has a market cap of $1.26 billion, a PE ratio of 61.93 and a beta of 0.96.

Institutional Trading of Sandy Spring Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Sandy Spring Bancorp by 96.9% during the third quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock worth $2,215,000 after purchasing an additional 34,735 shares during the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Sandy Spring Bancorp by 1,296.9% in the fourth quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock valued at $424,000 after acquiring an additional 11,672 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at about $2,989,000. Barclays PLC raised its holdings in shares of Sandy Spring Bancorp by 36.8% in the third quarter. Barclays PLC now owns 119,799 shares of the bank’s stock valued at $3,759,000 after acquiring an additional 32,223 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Sandy Spring Bancorp by 140.6% in the fourth quarter. SG Americas Securities LLC now owns 13,004 shares of the bank’s stock valued at $438,000 after acquiring an additional 7,600 shares in the last quarter. 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.