Sandy Spring Bancorp Inc. (SASR) Reaches New 12-Month High at $30.30
Sandy Spring Bancorp Inc. (NASDAQ:SASR) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.30 and last traded at $30.22, with a volume of 12,060 shares traded. The stock had previously closed at $29.62.
Separately, Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Thursday, June 2nd.
The stock’s 50-day moving average is $29.02 and its 200 day moving average is $27.52. The firm has a market cap of $719.50 million and a P/E ratio of 16.39.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, April 21st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. During the same period last year, the firm posted $0.45 earnings per share. On average, equities research analysts predict that Sandy Spring Bancorp Inc. will post $1.85 earnings per share for the current fiscal year.
A number of institutional investors have added to or reduced their stakes in SASR. California State Teachers Retirement System boosted its position in Sandy Spring Bancorp by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 45,760 shares of the company’s stock valued at $1,234,000 after buying an additional 900 shares during the last quarter. FineMark National Bank & Trust boosted its position in Sandy Spring Bancorp by 250.5% in the fourth quarter. FineMark National Bank & Trust now owns 46,266 shares of the company’s stock valued at $1,247,000 after buying an additional 33,065 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Sandy Spring Bancorp by 3.5% in the fourth quarter. California Public Employees Retirement System now owns 88,000 shares of the company’s stock valued at $2,372,000 after buying an additional 3,000 shares during the last quarter.
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking, Insurance and Investment Management. Its Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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