Stephens Upgrades Sandy Spring Bancorp (SASR) to Overweight

Stephens upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have $45.00 price objective on the bank’s stock.

A number of other equities analysts have also weighed in on SASR. Zacks Investment Research lowered Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Wednesday, October 25th. BidaskClub lowered Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Wednesday, January 10th. Boenning Scattergood reissued a hold rating on shares of Sandy Spring Bancorp in a research report on Thursday, January 18th. Gabelli assumed coverage on Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a buy rating and a $50.00 target price for the company. Finally, Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a hold rating in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $44.80.

Sandy Spring Bancorp (SASR) opened at $38.76 on Thursday. Sandy Spring Bancorp has a 52-week low of $36.41 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 firm has a market capitalization of $931.19, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.00 and a beta of 0.93.

Sandy Spring Bancorp (NASDAQ:SASR) last issued 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 return on equity of 10.91% and a net margin of 21.63%. The business had revenue of $55.79 million during the quarter, compared to analyst estimates of $56.21 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Sandy Spring Bancorp’s revenue was up 8.7% on a year-over-year basis. equities analysts forecast that Sandy Spring Bancorp will post 3.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s payout ratio is currently 47.27%.

In other news, Director Joe Reeder sold 1,538 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $38.63, for a total transaction of $59,412.94. Following the completion of the sale, the director now owns 154,473 shares of the company’s stock, valued at approximately $5,967,291.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shaza L. Andersen sold 8,546 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $39.64, for a total transaction of $338,763.44. Following the sale, the director now directly owns 77,344 shares of the company’s stock, valued at approximately $3,065,916.16. The disclosure for this sale can be found here. Insiders have sold a total of 21,956 shares of company stock valued at $860,119 in the last ninety days. Insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. UBS Asset Management Americas Inc. purchased a new stake in shares of Sandy Spring Bancorp during the 2nd quarter valued at about $268,000. Vanguard Group Inc. increased its position in shares of Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after purchasing an additional 10,359 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Sandy Spring Bancorp by 46.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 66,478 shares of the bank’s stock valued at $2,703,000 after purchasing an additional 20,961 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Sandy Spring Bancorp by 5.8% during the 2nd quarter. Voya Investment Management LLC now owns 14,980 shares of the bank’s stock valued at $609,000 after purchasing an additional 821 shares during the last quarter. Finally, State Street Corp increased its position in shares of Sandy Spring Bancorp by 16.9% during the 2nd quarter. State Street Corp now owns 523,549 shares of the bank’s stock valued at $21,287,000 after purchasing an additional 75,500 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

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Sandy Spring Bancorp Company Profile

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.

Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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