Sandy Spring Bancorp (NASDAQ:SASR) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the bank’s stock.

A number of other equities research analysts have also recently weighed in on SASR. Keefe, Bruyette & Woods upped their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. DA Davidson increased their price target on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.25.

Sandy Spring Bancorp Trading Up 0.6 %

Shares of NASDAQ SASR opened at $34.10 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a market capitalization of $1.54 billion, a P/E ratio of 16.72 and a beta of 0.95. Sandy Spring Bancorp has a 1-year low of $19.52 and a 1-year high of $34.63. The business has a fifty day moving average price of $31.79 and a 200 day moving average price of $27.17.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The company had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.74% and a net margin of 11.54%. During the same quarter last year, the company earned $0.62 earnings per share. Equities research analysts expect that Sandy Spring Bancorp will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandy Spring Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carmichael Hill & Associates Inc. increased its holdings in shares of Sandy Spring Bancorp by 3.6% in the second quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after purchasing an additional 412 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sandy Spring Bancorp by 2.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,065 shares of the bank’s stock valued at $818,000 after purchasing an additional 609 shares during the period. Truist Financial Corp increased its holdings in shares of Sandy Spring Bancorp by 2.6% in the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after purchasing an additional 1,104 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Sandy Spring Bancorp by 9.8% in the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock valued at $321,000 after purchasing an additional 1,176 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of Sandy Spring Bancorp by 8.2% in the first quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock valued at $402,000 after purchasing an additional 1,316 shares during the period. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.