Stock Worth Mentioning Today: Sandy Spring Bancorp Inc. Stock Price Hits 52-Week High Today

Stock Worth Mentioning Today: Sandy Spring Bancorp Inc. Stock Price Hits 52 Week High Today

The stock of Sandy Spring Bancorp Inc. (NASDAQ:SASR) hit a new 52-week high and has $38.40 target or 4.00% above today’s $36.92 share price. The 7 months bullish chart indicates low risk for the $870.71 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $38.40 price target is reached, the company will be worth $34.83 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 42,909 shares traded hands. Sandy Spring Bancorp Inc. (NASDAQ:SASR) has risen 24.97% since April 26, 2016 and is uptrending. It has outperformed by 19.71% the S&P500.

Analysts await Sandy Spring Bancorp Inc. (NASDAQ:SASR) to report earnings on January, 19. They expect $0.53 earnings per share, down 17.19% or $0.11 from last year’s $0.64 per share. SASR’s profit will be $12.50M for 17.42 P/E if the $0.53 EPS becomes a reality. After $0.56 actual earnings per share reported by Sandy Spring Bancorp Inc. for the previous quarter, Wall Street now forecasts -5.36% negative EPS growth.

Sandy Spring Bancorp Inc. (NASDAQ:SASR) Ratings Coverage

Out of 3 analysts covering Sandy Spring Bancorp (NASDAQ:SASR), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Sandy Spring Bancorp has been the topic of 4 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Tuesday, August 25, the company rating was upgraded by Zacks.

According to Zacks Investment Research, “SANDY SPRING is a bank holding company for Sandy Spring National Bank of Maryland. The bank is community oriented, and conducts a full-service commercial banking business through community offices located in Montgomery, Howard, Prince George’s and Anne Arundel counties in Maryland.”

Insitutional Activity: The institutional sentiment increased to 1.6 in Q2 2016. Its up 0.31, from 1.29 in 2016Q1. The ratio is positive, as 7 funds sold all Sandy Spring Bancorp Inc. shares owned while 24 reduced positions. 5 funds bought stakes while 35 increased positions. They now own 15.66 million shares or 1.54% more from 15.42 million shares in 2016Q1.
Blackrock has 5,829 shares for 0% of their US portfolio. Barclays Plc accumulated 0% or 136 shares. The New Jersey-based Prudential Financial Inc has invested 0% in Sandy Spring Bancorp Inc. (NASDAQ:SASR). Moreover, Thrivent Financial For Lutherans has 0.02% invested in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 180,192 shares. M&T National Bank & Trust holds 16,763 shares or 0% of its portfolio. Commonwealth Equity reported 8,115 shares or 0% of all its holdings. Wellington Management Gp Llp last reported 424,975 shares in the company. Moreover, Manufacturers Life Co The has 0.02% invested in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 537,925 shares. Brandywine Global Investment Mngmt Limited Liability holds 0.02% of its portfolio in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 78,625 shares. Wells Fargo And Mn, a California-based fund reported 54,811 shares. Price T Rowe Associate Md reported 1.22 million shares or 0.01% of all its holdings. Legal & General Grp Inc Incorporated Plc reported 5,582 shares or 0% of all its holdings. Bancorp Of Montreal Can last reported 14 shares in the company. Tiaa Cref Lc last reported 0% of its portfolio in the stock. Bridgeway Capital owns 38,550 shares or 0.02% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 1 insider sale for $449,038 net activity. CACERES R LOUIS sold $449,038 worth of stock or 14,200 shares. The insider MAIWURM JAMES J bought $7,492.

Another recent and important Sandy Spring Bancorp Inc. (NASDAQ:SASR) news was published by Nasdaq.com which published an article titled: “Sandy Spring Bancorp, Inc. (SASR) Ex-Dividend Date Scheduled for November 07, 2016” on November 04, 2016.

SASR Company Profile

Sandy Spring Bancorp, Inc., incorporated on January 27, 1992, is the bank holding firm for Sandy Spring Bank (the Bank). The Firm operates through three business divisions Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial services and products, including various loan and deposit products to both individuals and businesses. The Insurance segment operates through Sandy Spring Insurance Corporation, a subsidiary of the Bank, and offers annuities as an alternative to traditional deposit accounts. The Investment Management segment operates through West Financial Services, Inc., a subsidiary of the Bank, which provides investment management and financial planning services. The Bank’s product portfolio includes loan and lease products, deposit activities, treasury activities and borrowing activities. The Bank operates over 45 community offices located in Central Maryland, Northern Virginia, and Washington D.C. The Firm is a community banking organization that focuses its lending and other services on businesses and clients in the local market area. Through its subsidiaries, Sandy Spring Insurance Corporation and West Financial Services, Inc., the Bank offers a menu of insurance and investment management services. Sandy Spring Insurance Corporation operates Sandy Spring Insurance, a general insurance agency located in Annapolis, Maryland, and Neff & Associates, an insurance agency located in Ocean City, Maryland.

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