BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a research report released on Monday morning.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Tuesday, January 1st. Boenning Scattergood restated a hold rating on shares of Sandy Spring Bancorp in a research report on Friday, October 19th. Finally, Robert W. Baird upgraded Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $44.00 target price for the company in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Sandy Spring Bancorp presently has a consensus rating of Buy and a consensus target price of $44.33.
Shares of SASR stock traded down $0.15 during mid-day trading on Monday, reaching $33.32. The stock had a trading volume of 146 shares, compared to its average volume of 102,241. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. Sandy Spring Bancorp has a one year low of $29.87 and a one year high of $43.87. The company has a market capitalization of $1.17 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.89 and a beta of 0.81.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.02). Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. The firm had revenue of $82.62 million during the quarter, compared to the consensus estimate of $82.74 million. During the same quarter in the prior year, the business posted $0.62 EPS. Sell-side analysts predict that Sandy Spring Bancorp will post 3.16 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC lifted its position in shares of Sandy Spring Bancorp by 10.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 16,080 shares of the bank’s stock worth $659,000 after buying an additional 1,493 shares during the period. Teachers Advisors LLC raised its position in Sandy Spring Bancorp by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 66,309 shares of the bank’s stock valued at $2,607,000 after purchasing an additional 1,675 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Sandy Spring Bancorp by 21.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock valued at $475,000 after purchasing an additional 2,040 shares during the last quarter. Rhumbline Advisers raised its position in Sandy Spring Bancorp by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 37,142 shares of the bank’s stock valued at $1,523,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Sandy Spring Bancorp by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock valued at $9,857,000 after purchasing an additional 2,495 shares during the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.
Sandy Spring Bancorp Company Profile
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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