Sandy Spring Bancorp (NASDAQ:SASR)‘s stock had its “hold” rating reiterated by analysts at Boenning Scattergood in a report released on Thursday.
Other equities research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, September 20th. Gabelli initiated coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Sandler O’Neill set a $44.00 target price on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Finally, BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Sandy Spring Bancorp has a consensus rating of “Hold” and an average price target of $44.75.
Shares of Sandy Spring Bancorp (SASR) opened at $40.25 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp has a fifty-two week low of $36.50 and a fifty-two week high of $45.64. The firm has a market cap of $965.74, a PE ratio of 18.30, a P/E/G ratio of 0.89 and a beta of 0.99.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The company had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. During the same quarter in the prior year, the business posted $0.55 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. analysts expect that Sandy Spring Bancorp will post 2.49 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of SASR. KBC Group NV purchased a new stake in Sandy Spring Bancorp in the 3rd quarter valued at about $139,000. BNP Paribas Arbitrage SA increased its stake in Sandy Spring Bancorp by 554.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock valued at $146,000 after buying an additional 3,038 shares during the last quarter. Court Place Advisors LLC purchased a new stake in Sandy Spring Bancorp in the 3rd quarter valued at about $200,000. Magnetar Financial LLC purchased a new stake in Sandy Spring Bancorp in the 3rd quarter valued at about $203,000. Finally, Victory Capital Management Inc. increased its stake in Sandy Spring Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock valued at $206,000 after buying an additional 759 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
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About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s 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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