Sandy Spring Bancorp (NASDAQ:SASR) has been given a $44.00 target price by analysts at Sandler O’Neill in a report issued on Friday. The brokerage currently has a “hold” rating on the bank’s stock. Sandler O’Neill’s target price suggests a potential upside of 8.64% from the company’s previous close.
Several other brokerages also recently commented on SASR. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Gabelli began coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $44.75.
Shares of Sandy Spring Bancorp (NASDAQ SASR) opened at $40.50 on Friday. Sandy Spring Bancorp has a 52 week low of $36.50 and a 52 week high of $45.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.12. The company has a market cap of $971.74, a price-to-earnings ratio of 16.80, a PEG ratio of 0.91 and a beta of 0.99.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $58.34 million. During the same quarter in the prior year, the firm posted $0.56 EPS. sell-side analysts expect that Sandy Spring Bancorp will post 2.43 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SASR. KBC Group NV acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth about $139,000. BNP Paribas Arbitrage SA lifted its position in Sandy Spring Bancorp by 554.4% during the 2nd 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 in the last quarter. Court Place Advisors LLC acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth about $200,000. Magnetar Financial LLC acquired a new position in Sandy Spring Bancorp during the 3rd quarter worth about $203,000. Finally, Victory Capital Management Inc. lifted its position in Sandy Spring Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock worth $206,000 after buying an additional 759 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
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About Sandy Spring Bancorp
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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