Sandy Spring Bancorp (NASDAQ:SASR) Upgraded by StockNews.com to “Hold”

Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other brokerages have also commented on SASR. Janney Montgomery Scott began coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target for the company. Stephens reissued an “equal weight” rating and issued a $25.00 price target on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus price target of $23.50.

View Our Latest Analysis on SASR

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ SASR opened at $22.93 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.02 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 $27.90. The company has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $23.24. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 11.24 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASRGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $184.38 million during the quarter, compared to analyst estimates of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, analysts predict that Sandy Spring Bancorp will post 1.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SASR. Commonwealth Equity Services LLC lifted its position in Sandy Spring Bancorp by 20.0% in the third quarter. Commonwealth Equity Services LLC now owns 11,725 shares of the bank’s stock valued at $251,000 after buying an additional 1,956 shares during the last quarter. Lincoln National Corp lifted its position in Sandy Spring Bancorp by 10.5% in the third quarter. Lincoln National Corp now owns 9,827 shares of the bank’s stock valued at $211,000 after buying an additional 933 shares during the last quarter. Barclays PLC increased its stake in Sandy Spring Bancorp by 16.5% during the third quarter. Barclays PLC now owns 100,253 shares of the bank’s stock worth $2,149,000 after purchasing an additional 14,202 shares during the period. New York State Common Retirement Fund increased its stake in Sandy Spring Bancorp by 22.7% during the third quarter. New York State Common Retirement Fund now owns 69,244 shares of the bank’s stock worth $1,484,000 after purchasing an additional 12,809 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Sandy Spring Bancorp during the third quarter worth about $94,000. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

(Get Free Report)

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.

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