Analysts at StockNews.com initiated coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR – Get Free Report) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the bank’s stock.
Sandy Spring Bancorp Price Performance
Sandy Spring Bancorp stock opened at $27.87 on Friday. The stock 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 fifty day simple moving average of $28.69 and a 200-day simple moving average of $32.58. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. 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
Institutional investors have recently added to or reduced their stakes in the business. Vestcor Inc acquired a new stake in Sandy Spring Bancorp during the fourth quarter worth approximately $37,000. Sterling Capital Management LLC raised its stake in Sandy Spring Bancorp by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,408 shares of the bank’s stock worth $47,000 after acquiring an additional 1,256 shares in the last quarter. KBC Group NV purchased a new stake in Sandy Spring Bancorp in the first quarter valued at $89,000. Nisa Investment Advisors LLC boosted its stake in Sandy Spring Bancorp by 12.5% in the first quarter. Nisa Investment Advisors LLC now owns 3,993 shares of the bank’s stock valued at $112,000 after acquiring an additional 445 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of Sandy Spring Bancorp during the first quarter worth about $132,000. 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.
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