Sandy Spring Bancorp Inc. (SASR) Reaches New 12-Month High at $30.30
Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.30 and last traded at $30.22, with a volume of 12,060 shares trading hands. The stock had previously closed at $29.62.
Separately, Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd.
The stock’s 50 day moving average is $28.92 and its 200-day moving average is $27.48. The firm has a market capitalization of $720.45 million and a price-to-earnings ratio of 16.41.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, April 21st. The company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. During the same quarter in the prior year, the company earned $0.45 EPS. Equities research analysts anticipate that Sandy Spring Bancorp Inc. will post $1.85 EPS for the current year.
A number of hedge funds recently made changes to their positions in SASR. California State Teachers Retirement System increased its stake 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. FineMark National Bank & Trust increased its stake in shares of 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 in the last quarter. Finally, California Public Employees Retirement System increased its stake 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.
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.