Sandy Spring Bancorp (NASDAQ:SASR) Stock Rating Upgraded by BidaskClub

Sandy Spring Bancorp (NASDAQ:SASR) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, BidAskClub reports.

SASR has been the subject of a number of other reports. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Piper Sandler assumed coverage on shares of Sandy Spring Bancorp in a research note on Monday, August 3rd. They issued a “neutral” rating on the stock. Stephens reaffirmed an “equal weight” rating and issued a $29.00 target price on shares of Sandy Spring Bancorp in a research note on Tuesday, June 30th. Finally, ValuEngine downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Sandy Spring Bancorp currently has an average rating of “Hold” and an average price target of $34.25.

Shares of SASR opened at $23.95 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 3.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.99 and a current ratio of 0.99. Sandy Spring Bancorp has a fifty-two week low of $18.00 and a fifty-two week high of $38.45. The firm has a 50 day moving average price of $24.13 and a 200-day moving average price of $23.99.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.73). The business had revenue of $124.44 million during the quarter, compared to the consensus estimate of $104.50 million. Sandy Spring Bancorp had a return on equity of 6.35% and a net margin of 11.88%. As a group, equities research analysts predict that Sandy Spring Bancorp will post 1.89 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Sandy Spring Bancorp by 31.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,482,436 shares of the bank’s stock valued at $61,516,000 after purchasing an additional 599,088 shares during the period. Macquarie Group Ltd. increased its position in Sandy Spring Bancorp by 49.5% during the 2nd quarter. Macquarie Group Ltd. now owns 784,140 shares of the bank’s stock valued at $19,431,000 after purchasing an additional 259,736 shares during the period. Charles Schwab Investment Management Inc. increased its position in Sandy Spring Bancorp by 45.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 347,870 shares of the bank’s stock valued at $8,621,000 after purchasing an additional 108,039 shares during the period. JPMorgan Chase & Co. increased its position in Sandy Spring Bancorp by 185.8% during the 1st quarter. JPMorgan Chase & Co. now owns 127,802 shares of the bank’s stock valued at $2,893,000 after purchasing an additional 83,087 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Sandy Spring Bancorp by 16.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 512,201 shares of the bank’s stock valued at $11,596,000 after purchasing an additional 71,118 shares during the period. 62.41% of the stock is currently owned by institutional investors.

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 The company operates in three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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