BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a research note published on Friday morning.

SASR has been the topic of several other research reports. ValuEngine downgraded shares of Sandy Spring Bancorp from a hold rating to a sell rating in a report on Monday, July 2nd. Sandler O’Neill upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating in a report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a hold rating to a sell rating in a report on Tuesday, July 24th. Boenning Scattergood restated a hold rating on shares of Sandy Spring Bancorp in a report on Friday. Finally, Robert W. Baird upgraded shares of Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $44.00 price objective on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $45.83.

SASR traded down $0.27 during trading on Friday, hitting $36.98. 150,668 shares of the company’s stock were exchanged, compared to its average volume of 130,128. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.07. Sandy Spring Bancorp has a fifty-two week low of $35.73 and a fifty-two week high of $43.87. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.07 and a beta of 0.68.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.02). Sandy Spring Bancorp had a return on equity of 11.00% and a net margin of 23.98%. The business had revenue of $82.62 million for the quarter, compared to analyst estimates of $82.74 million. During the same quarter in the previous year, the company posted $0.62 EPS. As a group, equities analysts forecast that Sandy Spring Bancorp will post 3.15 earnings per share for the current fiscal year.

In other news, Director Mark C. Michael sold 1,735 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $39.54, for a total value of $68,601.90. Following the completion of the sale, the director now owns 22,000 shares in the company, valued at $869,880. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.31% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sandy Spring Bancorp in the second quarter valued at about $505,000. Citadel Advisors LLC raised its holdings in shares of Sandy Spring Bancorp by 186.3% in the second quarter. Citadel Advisors LLC now owns 92,113 shares of the bank’s stock valued at $3,777,000 after purchasing an additional 59,944 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Sandy Spring Bancorp by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock valued at $9,857,000 after purchasing an additional 2,495 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Sandy Spring Bancorp by 10.2% in the second quarter. BlackRock Inc. now owns 2,889,039 shares of the bank’s stock valued at $118,480,000 after purchasing an additional 267,422 shares during the last quarter. Finally, Sandy Spring Bank purchased a new stake in shares of Sandy Spring Bancorp in the second quarter valued at about $7,107,000. Institutional investors own 68.78% 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 banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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