Sandy Spring Bancorp (NASDAQ:SASR) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Stephens upgraded shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research report on Thursday, February 22nd. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Thursday, January 18th. Sandler O’Neill set a $44.00 price objective on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research report on Friday, January 12th. Finally, Gabelli began coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $44.80.
Shares of Sandy Spring Bancorp (NASDAQ:SASR) opened at $39.57 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1,415.79, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. Sandy Spring Bancorp has a 1 year low of $36.41 and a 1 year high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm had revenue of $55.79 million during the quarter, compared to the consensus estimate of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. sell-side analysts anticipate that Sandy Spring Bancorp will post 3.05 EPS for the current fiscal year.
In other news, Director Joseph S. Bracewell sold 50,000 shares of Sandy Spring Bancorp stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $39.21, for a total value of $1,960,500.00. Following the completion of the sale, the director now directly owns 42,173 shares in the company, valued at $1,653,603.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shaza L. Andersen sold 8,546 shares of Sandy Spring Bancorp stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $39.64, for a total transaction of $338,763.44. Following the completion of the sale, the director now owns 77,344 shares of the company’s stock, valued at $3,065,916.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,256 shares of company stock valued at $3,660,166. 2.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. FNY Partners Fund LP acquired a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $132,000. KBC Group NV bought a new position in Sandy Spring Bancorp in the third quarter valued at approximately $139,000. Magnetar Financial LLC bought a new position in Sandy Spring Bancorp in the third quarter valued at approximately $203,000. Cornerstone Capital Management Holdings LLC. bought a new position in Sandy Spring Bancorp in the fourth quarter valued at approximately $214,000. Finally, SG Americas Securities LLC bought a new position in Sandy Spring Bancorp in the third quarter valued at approximately $261,000. Institutional investors own 73.40% of the company’s stock.
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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.
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