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

Equities researchers at StockNews.com initiated coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Sunday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Trading Up 1.0 %

Shares of SASR stock opened at $27.87 on Friday. 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 market cap of $1.26 billion, a P/E ratio of 61.93 and a beta of 0.96. The company has a 50 day moving average of $28.32 and a 200-day moving average of $32.43. Sandy Spring Bancorp has a 12-month low of $21.37 and a 12-month high of $39.55.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Sandy Spring Bancorp by 96.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,599 shares of the bank’s stock valued at $2,215,000 after buying an additional 34,735 shares in the last quarter. Evermay Wealth Management LLC lifted its position in shares of Sandy Spring Bancorp by 1,296.9% during the fourth quarter. Evermay Wealth Management LLC now owns 12,572 shares of the bank’s stock worth $424,000 after acquiring an additional 11,672 shares in the last quarter. New York Life Investment Management LLC bought a new position in shares of Sandy Spring Bancorp in the fourth quarter worth $2,989,000. SG Americas Securities LLC grew its position 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 purchasing an additional 7,600 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Sandy Spring Bancorp by 36.8% during the 3rd quarter. Barclays PLC now owns 119,799 shares of the bank’s stock valued at $3,759,000 after purchasing an additional 32,223 shares during the period. Hedge funds and other institutional investors own 66.90% of the company’s stock.

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.