Sandy Spring Bancorp’s (NASDAQ:SASR) “Hold” Rating Reiterated at Boenning Scattergood

Boenning Scattergood reissued their hold rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued to investors on Tuesday, January 2nd. Boenning Scattergood also issued estimates for Sandy Spring Bancorp’s Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $2.29 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a sell rating to a hold rating in a report on Saturday, December 23rd. ValuEngine upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $44.75.

Shares of Sandy Spring Bancorp (SASR) traded down $0.04 during trading hours on Tuesday, reaching $38.66. 260,948 shares of the company’s stock traded hands, compared to its average volume of 229,631. Sandy Spring Bancorp has a 52 week low of $36.50 and a 52 week high of $45.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $926.63, a P/E ratio of 17.57, a P/E/G ratio of 0.99 and a beta of 0.99.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.91%. The business had revenue of $55.79 million for the quarter, compared to the consensus estimate of $56.21 million. During the same period in the prior year, the business posted $0.55 earnings per share. Sandy Spring Bancorp’s revenue for the quarter was up 8.7% compared to the same quarter last year. analysts expect that Sandy Spring Bancorp will post 3.07 EPS for the current year.

In other Sandy Spring Bancorp news, Director Shaza L. Andersen sold 8,546 shares of the company’s stock in a transaction dated 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 directly owns 77,344 shares in the company, valued at $3,065,916.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joe Reeder sold 1,538 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $38.63, for a total transaction of $59,412.94. Following 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. 2.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. Schwab Charles Investment Management Inc. lifted its stake in shares of 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 valued at $5,865,000 after buying an additional 43,299 shares during the period. First Trust Advisors LP raised its position in Sandy Spring Bancorp by 70.5% in the second quarter. First Trust Advisors LP now owns 75,232 shares of the bank’s stock worth $3,059,000 after purchasing an additional 31,100 shares in the last quarter. Bank of New York Mellon Corp raised 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 purchasing an additional 23,956 shares in the last quarter. Legal & General Group Plc raised 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 purchasing an additional 182 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Sandy Spring Bancorp by 554.4% in the second quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after purchasing an additional 3,038 shares in the last quarter. Institutional investors and hedge funds own 70.60% 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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