Sandy Spring Bancorp Inc. (NASDAQ:SASR) Director Mark C. Michael sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $42.06, for a total transaction of $84,120.00. Following the transaction, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $1,640,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Sandy Spring Bancorp opened at $42.26 on Friday, Marketbeat Ratings reports. Sandy Spring Bancorp Inc. has a 1 year low of $36.41 and a 1 year high of $43.87. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 1.07.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, April 19th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. Sandy Spring Bancorp had a net margin of 21.34% and a return on equity of 10.94%. The business had revenue of $81.03 million during the quarter, compared to analyst estimates of $78.10 million. During the same period in the previous year, the business posted $0.63 earnings per share. Sandy Spring Bancorp’s revenue for the quarter was up 48.2% on a year-over-year basis. equities research analysts predict that Sandy Spring Bancorp Inc. will post 3.33 earnings per share for the current fiscal year.
Several equities analysts recently commented on SASR shares. Stephens raised shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Thursday, February 22nd. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 20th. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, April 20th. Finally, Keefe, Bruyette & Woods upgraded shares of Sandy Spring Bancorp from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research report on Tuesday, April 24th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sandy Spring Bancorp currently has a consensus rating of “Hold” and an average price target of $46.20.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $111,000. Highlander Capital Management LLC bought a new stake in Sandy Spring Bancorp during the first quarter valued at approximately $186,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Sandy Spring Bancorp during the fourth quarter valued at approximately $214,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Sandy Spring Bancorp in the 1st quarter worth approximately $217,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of Sandy Spring Bancorp in the 1st quarter worth approximately $271,000. Institutional investors and hedge funds own 66.60% of the company’s stock.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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