Sandy Spring Bancorp (SASR) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a report issued on Wednesday.

A number of other equities analysts have also issued reports on SASR. Zacks Investment Research raised shares of Sandy Spring Bancorp from a hold rating to a buy rating and set a $45.00 price target for the company in a research report on Tuesday, April 24th. Boenning Scattergood reissued a hold rating on shares of Sandy Spring Bancorp in a research report on Friday, April 20th. BidaskClub raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Thursday, March 29th. Keefe, Bruyette & Woods raised shares of Sandy Spring Bancorp from a market perform rating to an outperform rating and set a $47.00 price target for the company in a research report on Tuesday, April 24th. Finally, Stephens raised shares of Sandy Spring Bancorp from an equal weight rating to an overweight rating and set a $45.00 price target for the company in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sandy Spring Bancorp currently has a consensus rating of Hold and an average price target of $46.20.

Sandy Spring Bancorp opened at $42.09 on Wednesday, according to MarketBeat. Sandy Spring Bancorp has a 12-month low of $36.41 and a 12-month high of $43.13. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.85.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Sandy Spring Bancorp had a net margin of 21.34% and a return on equity of 10.94%. The company had revenue of $81.03 million during the quarter, compared to analyst estimates of $78.10 million. During the same period last year, the firm posted $0.63 EPS. Sandy Spring Bancorp’s revenue for the quarter was up 48.2% compared to the same quarter last year. analysts expect that Sandy Spring Bancorp will post 3.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 9th were paid a dividend of $0.28 per share. This is a boost from Sandy Spring Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, May 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.66%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 44.09%.

In other news, Director Mark C. Michael sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $40.00, for a total transaction of $40,000.00. Following the sale, the director now owns 100,590 shares of the company’s stock, valued at approximately $4,023,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark C. Michael sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $41.74, for a total transaction of $83,480.00. Following the sale, the director now directly owns 80,590 shares in the company, valued at approximately $3,363,826.60. The disclosure for this sale can be found here. Insiders have sold a total of 91,800 shares of company stock worth $3,631,687 in the last ninety days. Corporate insiders own 3.31% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp during the 1st quarter worth approximately $111,000. FNY Partners Fund LP acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $132,000. Highlander Capital Management LLC acquired a new stake in shares of Sandy Spring Bancorp during the 1st quarter worth approximately $186,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth approximately $214,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Sandy Spring Bancorp during the 1st quarter worth approximately $217,000. 66.03% of the stock is currently owned by institutional investors and hedge funds.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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