The stock of Sandy Spring Bancorp Inc. (NASDAQ:SASR) hit a new 52-week high and has $48.82 target or 38.00% above today’s $35.38 share price. The 8 months bullish chart indicates low risk for the $847.15 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $48.82 price target is reached, the company will be worth $321.92M 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 31,060 shares traded hands. Sandy Spring Bancorp Inc. (NASDAQ:SASR) has risen 24.39% since April 19, 2016 and is uptrending. It has outperformed by 20.53% the S&P500.
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. The rating was upgraded by Zacks on Tuesday, August 25 to “Sell”.
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 2016 Q2. 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.
Vanguard Group Incorporated has 0% invested in the company for 987,376 shares. Deutsche Bancshares Ag holds 0% of its portfolio in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 9,214 shares. Rhumbline Advisers accumulated 0% or 31,528 shares. Renaissance Techs Lc accumulated 0.01% or 248,300 shares. Metropolitan Life Insurance New York holds 19,558 shares or 0% of its portfolio. Moreover, Panagora Asset Mngmt has 0% invested in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 3,039 shares. Brown Advisory has 0% invested in the company for 32,251 shares. Federated Incorporated Pa holds 0% of its portfolio in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 4,096 shares. Northern Tru holds 502,931 shares or 0% of its portfolio. Prudential Fincl accumulated 56,426 shares or 0% of the stock. Ladenburg Thalmann Incorporated has invested 0% of its portfolio in Sandy Spring Bancorp Inc. (NASDAQ:SASR). American Int Grp Inc accumulated 0% or 13,549 shares. Moreover, Janney Montgomery Scott Ltd has 0.01% invested in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 18,388 shares. Moreover, Credit Suisse Ag has 0% invested in Sandy Spring Bancorp Inc. (NASDAQ:SASR) for 30,045 shares. Gilman Hill Asset Mgmt Lc last reported 0.25% of its portfolio in the stock.
Insider Transactions: Since May 31, 2016, the stock had 1 insider buy, and 1 sale for $441,546 net activity. On Tuesday, November 8 the insider CACERES R LOUIS sold $449,038. MAIWURM JAMES J bought 258 shares worth $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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