Sandy Spring Bancorp (SASR) Coverage Initiated by Analysts at Gabelli

Gabelli started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report released on Monday. The firm issued a buy rating and a $50.00 price objective on the bank’s stock.

A number of other research firms have also recently commented on SASR. Boenning Scattergood restated a hold rating on shares of Sandy Spring Bancorp in a research report on Friday, October 20th. ValuEngine upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Wednesday, October 25th. Finally, BidaskClub upgraded shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. 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 $0.50 on Monday, hitting $39.52. 254,101 shares of the company were exchanged, compared to its average volume of 258,183. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03. Sandy Spring Bancorp has a 1-year low of $36.50 and a 1-year high of $45.64. The company has a market cap of $936.23, a PE ratio of 16.40 and a beta of 0.99.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial For Lutherans increased its holdings in Sandy Spring Bancorp by 90.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 309,182 shares of the bank’s stock worth $12,571,000 after purchasing an additional 147,030 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Sandy Spring Bancorp by 13.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after purchasing an additional 98,650 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Sandy Spring Bancorp by 26.7% during the 2nd quarter. Renaissance Technologies LLC now owns 431,354 shares of the bank’s stock worth $17,539,000 after purchasing an additional 90,954 shares in the last quarter. State Street Corp increased its holdings in Sandy Spring Bancorp by 16.9% during the 2nd quarter. State Street Corp now owns 523,549 shares of the bank’s stock worth $21,287,000 after purchasing an additional 75,500 shares in the last quarter. Finally, 361 Capital LLC bought a new position in Sandy Spring Bancorp during the 3rd quarter worth about $2,173,000. Institutional investors and hedge funds own 70.37% 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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