Sandy Spring Bancorp Inc. (SASR) Shares Gap Up to $30.15
Sandy Spring Bancorp Inc. (NASDAQ:SASR) shares gapped up before the market opened on Thursday . The stock had previously closed at $29.97, but opened at $30.15. Sandy Spring Bancorp shares last traded at $30.82, with a volume of 18,174 shares changing hands.
Separately, Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, June 2nd.
The stock has a market cap of $728.33 million and a P/E ratio of 16.59. The firm’s 50-day moving average price is $29.06 and its 200-day moving average price is $27.54.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. During the same period in the previous year, the company earned $0.45 EPS. On average, analysts forecast that Sandy Spring Bancorp Inc. will post $1.85 EPS for the current year.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in SASR. FineMark National Bank & Trust increased 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. California Public Employees Retirement System increased its position in shares of 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 worth $2,372,000 after buying an additional 3,000 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of 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 worth $1,234,000 after buying an additional 900 shares in 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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