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 upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, March 23rd.
The stock’s 50-day moving average price is $29.12 and its 200 day moving average price is $27.56. The firm has a market cap of $731.91 million and a P/E ratio of 16.67.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, April 21st. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Analysts forecast that Sandy Spring Bancorp Inc. will post $1.85 earnings per share for the current year.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. 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 worth $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 worth $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 worth $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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