Sandy Spring Bancorp (NASDAQ:SASR) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a report released on Thursday. The firm currently has a $45.00 price objective on the bank’s stock. Stephens’ price target would suggest a potential upside of 14.27% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Gabelli started coverage on shares of Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Thursday, January 18th. Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the company a “hold” rating in a research report on Friday, January 12th. Finally, BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.80.
Sandy Spring Bancorp (NASDAQ SASR) opened at $39.38 on Thursday. 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 $36.41 and a 1 year high of $45.64. The company has a market cap of $959.98, a PE ratio of 16.21, a P/E/G ratio of 1.00 and a beta of 0.93.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, beating the 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 analyst estimates of $56.21 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. analysts anticipate that Sandy Spring Bancorp will post 3.05 EPS for the current year.
In other Sandy Spring Bancorp news, Director Shaza L. Andersen sold 8,546 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $39.64, for a total value of $338,763.44. Following the transaction, the director now directly owns 77,344 shares in the company, valued at $3,065,916.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph S. Bracewell sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $39.09, for a total transaction of $390,900.00. Following the completion of the transaction, the director now owns 144,473 shares in the company, valued at $5,647,449.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,956 shares of company stock worth $860,119. Company insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. raised its stake in shares of Sandy Spring Bancorp by 32.4% in the third quarter. Prudential Financial Inc. now owns 85,088 shares of the bank’s stock worth $3,526,000 after acquiring an additional 20,840 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Sandy Spring Bancorp by 99.0% in the third quarter. American Century Companies Inc. now owns 73,059 shares of the bank’s stock worth $3,028,000 after acquiring an additional 36,353 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Sandy Spring Bancorp in the third quarter worth about $507,000. Citadel Advisors LLC raised its stake in shares of Sandy Spring Bancorp by 36.9% in the third quarter. Citadel Advisors LLC now owns 47,435 shares of the bank’s stock worth $1,966,000 after acquiring an additional 12,793 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Sandy Spring Bancorp in the third quarter worth about $537,000. 71.04% of the stock is owned by institutional investors.
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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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