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

StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report report published on Friday. The firm issued a sell rating on the bank’s stock.

Sandy Spring Bancorp Trading Up 1.0 %

Shares of Sandy Spring Bancorp stock opened at $31.97 on Friday. Sandy Spring Bancorp has a 12-month low of $19.52 and a 12-month high of $39.55. The company has a 50-day simple moving average of $33.32 and a 200 day simple moving average of $33.45. 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 stock has a market capitalization of $1.44 billion, a P/E ratio of 71.05 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Sandy Spring Bancorp had a return on equity of 5.31% and a net margin of 2.65%. Research analysts expect that Sandy Spring Bancorp will post 2.48 earnings per share for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, February 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Wednesday, February 12th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 302.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SASR. Wealth Enhancement Advisory Services LLC boosted its stake in 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 acquiring an additional 609 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Sandy Spring Bancorp by 231.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,748 shares of the bank’s stock worth $369,000 after acquiring an additional 8,200 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Sandy Spring Bancorp by 55.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 17,487 shares of the bank’s stock worth $549,000 after acquiring an additional 6,224 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Sandy Spring Bancorp during the 3rd quarter worth approximately $254,000. Finally, Capital Performance Advisors LLP bought a new position in Sandy Spring Bancorp during the 3rd quarter worth approximately $29,000. 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.