Sandy Spring Bancorp (NASDAQ:SASR)‘s stock had its “hold” rating reissued by research analysts at Boenning Scattergood in a research report issued on Thursday, January 18th.
Several other analysts also recently weighed in on SASR. Zacks Investment Research upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, September 20th. ValuEngine upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Gabelli started coverage on Sandy Spring Bancorp in a report on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Sandler O’Neill set a $44.00 price objective on Sandy Spring Bancorp and gave the company a “hold” rating in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus price target of $44.75.
Sandy Spring Bancorp (SASR) traded down $0.05 on Thursday, hitting $37.11. The stock had a trading volume of 186,527 shares, compared to its average volume of 244,177. The company has a market cap of $890.40, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. Sandy Spring Bancorp has a 52-week low of $36.41 and a 52-week high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $55.79 million for the quarter, compared to the consensus estimate of $56.21 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. research analysts forecast that Sandy Spring Bancorp will post 3.05 earnings per share for the current fiscal year.
In other Sandy Spring Bancorp news, EVP Ronda M. Mcdowell sold 1,872 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $37.95, for a total transaction of $71,042.40. Following the completion of the transaction, the executive vice president now owns 5,090 shares of the company’s stock, valued at $193,165.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joe Reeder sold 1,538 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $38.63, for a total value of $59,412.94. Following the completion of the sale, the director now owns 154,473 shares of the company’s stock, valued at $5,967,291.99. The disclosure for this sale can be found here. Insiders have sold 11,956 shares of company stock valued at $469,219 in the last three months. Insiders own 2.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of SASR. Schwab Charles Investment Management Inc. grew its position in Sandy Spring Bancorp by 42.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock worth $5,865,000 after acquiring an additional 43,299 shares during the period. Bank of New York Mellon Corp grew its position in Sandy Spring Bancorp by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 275,394 shares of the bank’s stock worth $11,198,000 after acquiring an additional 23,956 shares during the period. Legal & General Group Plc grew its position in Sandy Spring Bancorp by 2.1% in the second quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock worth $365,000 after acquiring an additional 182 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Sandy Spring Bancorp by 554.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after buying an additional 3,038 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Sandy Spring Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock worth $206,000 after buying an additional 759 shares during the period. Institutional investors own 70.84% of the company’s stock.
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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