Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Given Average Rating of “Hold” by Brokerages

Shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) have received a consensus recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $28.00.

Several equities research analysts have weighed in on SASR shares. DA Davidson decreased their price target on shares of Sandy Spring Bancorp from $32.00 to $28.00 in a research note on Monday, April 24th. Stephens decreased their price target on shares of Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, April 20th. Keefe, Bruyette & Woods decreased their price target on shares of Sandy Spring Bancorp from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th. StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Finally, Piper Sandler decreased their target price on shares of Sandy Spring Bancorp from $31.00 to $27.00 in a research report on Monday, April 24th.

Sandy Spring Bancorp Price Performance

SASR stock opened at $20.80 on Monday. The firm has a market cap of $932.46 million, a price-to-earnings ratio of 5.39 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.73. Sandy Spring Bancorp has a 12-month low of $19.47 and a 12-month high of $42.70. The company’s fifty day simple moving average is $23.96 and its 200 day simple moving average is $30.61.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 17th. Shareholders of record on Wednesday, May 10th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Tuesday, May 9th. Sandy Spring Bancorp’s payout ratio is 35.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. Quadrant Capital Group LLC boosted its stake in Sandy Spring Bancorp by 181.5% in the third quarter. Quadrant Capital Group LLC now owns 760 shares of the bank’s stock valued at $27,000 after acquiring an additional 490 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Sandy Spring Bancorp by 290.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,054 shares of the bank’s stock valued at $27,000 after buying an additional 784 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Sandy Spring Bancorp by 4,565.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,073 shares of the bank’s stock valued at $37,000 after buying an additional 1,050 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $42,000. Finally, FMR LLC lifted its stake in shares of Sandy Spring Bancorp by 57.7% during the 1st quarter. FMR LLC now owns 3,112 shares of the bank’s stock valued at $81,000 after buying an additional 1,139 shares in the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

About Sandy Spring Bancorp

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Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.