Sandy Spring Bancorp (SASR) Research Coverage Started at Gabelli

Gabelli began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $50.00 price target on the bank’s stock. Gabelli also issued estimates for Sandy Spring Bancorp’s FY2017 earnings at $2.50 EPS, FY2018 earnings at $2.85 EPS, FY2019 earnings at $3.25 EPS, FY2020 earnings at $3.55 EPS and FY2021 earnings at $3.85 EPS.

SASR has been the subject of a number of other reports. Zacks Investment Research raised Sandy Spring Bancorp from a hold rating to a buy rating and set a $44.00 price target for the company in a research note on Wednesday, September 20th. ValuEngine raised Sandy Spring Bancorp from a hold rating to a buy rating in a research note on Monday, October 2nd. Boenning Scattergood reaffirmed a hold rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. Finally, BidaskClub raised Sandy Spring Bancorp from a sell rating to a hold rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Sandy Spring Bancorp currently has an average rating of Buy and a consensus target price of $45.00.

Sandy Spring Bancorp (NASDAQ SASR) traded up $0.54 on Monday, hitting $40.25. The stock had a trading volume of 312,500 shares, compared to its average volume of 257,788. Sandy Spring Bancorp has a 52 week low of $36.50 and a 52 week high of $45.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $936.23, a P/E ratio of 16.70 and a beta of 0.99.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. The firm had revenue of $55.44 million for the quarter, compared to analysts’ expectations of $58.34 million. During the same period last year, the business earned $0.56 earnings per share. equities analysts forecast that Sandy Spring Bancorp will post 2.4 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SASR. Schwab Charles Investment Management Inc. raised its stake in shares of Sandy Spring Bancorp by 42.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock valued at $5,865,000 after acquiring an additional 43,299 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Sandy Spring Bancorp by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 275,394 shares of the bank’s stock valued at $11,198,000 after acquiring an additional 23,956 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Sandy Spring Bancorp by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock valued at $365,000 after acquiring an additional 182 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of 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 acquiring an additional 3,038 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of Sandy Spring Bancorp by 234.1% in the 2nd quarter. Federated Investors Inc. PA now owns 12,902 shares of the bank’s stock valued at $525,000 after acquiring an additional 9,040 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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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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