Sandy Spring Bancorp (NASDAQ:SASR) Upgraded at StockNews.com

StockNews.com upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a report issued on Thursday.

A number of other analysts have also recently issued reports on SASR. Stephens restated an equal weight rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised their price objective on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a market perform rating in a research report on Thursday. Finally, DA Davidson upped their target price on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a neutral rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $27.00.

Sandy Spring Bancorp Price Performance

NASDAQ:SASR opened at $30.92 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55. Sandy Spring Bancorp has a 12-month low of $19.27 and a 12-month high of $31.71. The stock’s 50 day moving average price is $24.53 and its two-hundred day moving average price is $23.31. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.16 and a beta of 0.97.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. Sandy Spring Bancorp had a return on equity of 6.44% and a net margin of 12.31%. The business had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. During the same quarter in the prior year, the business earned $0.60 EPS. On average, analysts anticipate that Sandy Spring Bancorp will post 1.93 earnings per share for the current year.

Institutional Trading of Sandy Spring Bancorp

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Sandy Spring Bancorp in the fourth quarter valued at approximately $8,423,000. Wedge Capital Management L L P NC increased its stake in Sandy Spring Bancorp by 69.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after acquiring an additional 60,850 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sandy Spring Bancorp by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock valued at $61,033,000 after acquiring an additional 52,454 shares in the last quarter. Wellington Management Group LLP raised its holdings in Sandy Spring Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock valued at $8,541,000 after acquiring an additional 43,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sandy Spring Bancorp by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock valued at $15,816,000 after acquiring an additional 40,374 shares during the period. Institutional investors own 66.90% 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 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.