Sandy Spring Bancorp (NASDAQ:SASR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other equities analysts have also issued reports about the stock. Gabelli reaffirmed a “buy” rating on shares of Sandy Spring Bancorp in a report on Friday, January 18th. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 19th. Sandler O’Neill lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a report on Friday, January 18th. Finally, Keefe, Bruyette & Woods lowered shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $44.00 to $35.00 in a report on Friday, January 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Sandy Spring Bancorp currently has an average rating of “Hold” and a consensus price target of $40.83.

Shares of NASDAQ:SASR opened at $32.48 on Tuesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.81. Sandy Spring Bancorp has a 52 week low of $29.87 and a 52 week high of $43.87. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). The business had revenue of $80.18 million during the quarter, compared to the consensus estimate of $81.94 million. Sandy Spring Bancorp had a return on equity of 10.10% and a net margin of 26.19%. During the same period last year, the firm earned $0.34 EPS. On average, sell-side analysts predict that Sandy Spring Bancorp will post 3.19 EPS for the current fiscal year.

In other news, Director Mark E. Friis purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 22nd. The shares were acquired at an average cost of $31.86 per share, with a total value of $31,860.00. Following the completion of the acquisition, the director now owns 11,235 shares of the company’s stock, valued at $357,947.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.31% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SASR. MetLife Investment Advisors LLC grew its holdings in shares of Sandy Spring Bancorp by 10.2% during the second quarter. MetLife Investment Advisors LLC now owns 16,080 shares of the bank’s stock valued at $659,000 after buying an additional 1,493 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Sandy Spring Bancorp by 2.6% during the third quarter. Teachers Advisors LLC now owns 66,309 shares of the bank’s stock valued at $2,607,000 after buying an additional 1,675 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Sandy Spring Bancorp by 21.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock valued at $475,000 after buying an additional 2,040 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sandy Spring Bancorp by 1.0% during 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 buying an additional 2,495 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sandy Spring Bancorp by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 30,643 shares of the bank’s stock valued at $1,205,000 after buying an additional 3,583 shares during the last quarter. 69.09% of the stock is currently owned by institutional investors and hedge funds.

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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