Several other research firms also recently weighed in on SASR. Boenning Scattergood started coverage on Sandy Spring Bancorp in a research note on Monday, June 24th. They set a buy rating and a $37.25 price target on the stock. Zacks Investment Research raised Sandy Spring Bancorp from a sell rating to a hold rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $37.85.
Sandy Spring Bancorp stock opened at $32.75 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.02. The business’s 50-day simple moving average is $34.97 and its two-hundred day simple moving average is $33.88. The company has a market cap of $1.21 billion, a PE ratio of 11.06, a PEG ratio of 1.72 and a beta of 0.84. Sandy Spring Bancorp has a fifty-two week low of $29.83 and a fifty-two week high of $40.56.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.79 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.79. The business had revenue of $82.74 million for the quarter, compared to the consensus estimate of $82.39 million. Sandy Spring Bancorp had a return on equity of 10.14% and a net margin of 27.80%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, analysts predict that Sandy Spring Bancorp will post 3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.66%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 41.96%.
Hedge funds have recently modified their holdings of the company. Banc Funds Co. LLC lifted its holdings in shares of Sandy Spring Bancorp by 1.7% in the 1st quarter. Banc Funds Co. LLC now owns 844,793 shares of the bank’s stock valued at $26,425,000 after buying an additional 14,405 shares during the period. WBI Investments Inc. acquired a new position in shares of Sandy Spring Bancorp in the 2nd quarter valued at about $1,416,000. Norges Bank acquired a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at about $14,552,000. Systematic Financial Management LP lifted its holdings in shares of Sandy Spring Bancorp by 6.2% in the 1st quarter. Systematic Financial Management LP now owns 681,096 shares of the bank’s stock valued at $21,305,000 after buying an additional 39,535 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Sandy Spring Bancorp by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 62,342 shares of the bank’s stock valued at $1,950,000 after buying an additional 10,095 shares during the period. 70.54% of the stock is owned by institutional investors and hedge funds.
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 The company operates in three segments: Community Banking, Insurance, and Investment Management.
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