Stephens reiterated their equal weight rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report issued on Tuesday, The Fly reports. They currently have a $29.00 price target on the bank’s stock.
Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods raised shares of Sandy Spring Bancorp from a market perform rating to an outperform rating and set a $32.00 price target on the stock in a research note on Wednesday, April 1st. BidaskClub raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Thursday, June 4th. TheStreet lowered shares of Sandy Spring Bancorp from a b rating to a c+ rating in a research note on Friday, March 6th. Finally, Zacks Investment Research downgraded Sandy Spring Bancorp from a hold rating to a sell rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $34.25.
Shares of Sandy Spring Bancorp stock opened at $24.78 on Tuesday. The stock’s fifty day simple moving average is $24.50 and its 200 day simple moving average is $28.98. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $1.05 billion, a PE ratio of 9.21, a PEG ratio of 1.30 and a beta of 1.09. Sandy Spring Bancorp has a 12 month low of $18.00 and a 12 month high of $38.45.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.37). Sandy Spring Bancorp had a return on equity of 8.59% and a net margin of 23.10%. The business had revenue of $82.50 million for the quarter, compared to analyst estimates of $86.20 million. Analysts predict that Sandy Spring Bancorp will post 2.49 EPS for the current fiscal year.
In related news, Director Pamela A. Little bought 3,580 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $19.89 per share, with a total value of $71,206.20. Following the completion of the transaction, the director now owns 23,685 shares in the company, valued at $471,094.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark C. Michael bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $20.00 per share, for a total transaction of $26,000.00. Following the acquisition, the director now directly owns 24,447 shares of the company’s stock, valued at approximately $488,940. The disclosure for this purchase can be found here. Insiders have purchased 5,880 shares of company stock valued at $120,576 in the last 90 days. 3.15% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new position in Sandy Spring Bancorp during the first quarter worth $30,000. Edge Wealth Management LLC bought a new position in shares of Sandy Spring Bancorp in the 1st quarter valued at about $44,000. Tower Research Capital LLC TRC increased its stake in shares of Sandy Spring Bancorp by 113.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,549 shares of the bank’s stock worth $59,000 after purchasing an additional 824 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Sandy Spring Bancorp in the 1st quarter valued at about $93,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sandy Spring Bancorp by 6,170.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,079 shares of the bank’s stock valued at $115,000 after purchasing an additional 4,998 shares during the period. 56.51% of the stock is owned by institutional investors.
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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