BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a hold rating to a buy rating in a report released on Tuesday morning, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Boenning Scattergood initiated coverage on shares of Sandy Spring Bancorp in a research note on Monday, June 24th. They set a buy rating and a $37.25 price objective for the company. Zacks Investment Research reaffirmed a hold rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Sandy Spring Bancorp has a consensus rating of Hold and a consensus target price of $37.85.

NASDAQ SASR opened at $35.13 on Tuesday. Sandy Spring Bancorp has a 12 month low of $29.83 and a 12 month high of $43.44. The company’s 50-day moving average is $33.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $1.25 billion, a P/E ratio of 12.28 and a beta of 0.85.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. Sandy Spring Bancorp had a net margin of 27.54% and a return on equity of 9.99%. The company had revenue of $84.96 million during the quarter, compared to the consensus estimate of $79.97 million. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Sandy Spring Bancorp will post 3.23 EPS for the current fiscal year.

In other Sandy Spring Bancorp news, Director Joe Reeder bought 867 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average price of $34.57 per share, with a total value of $29,972.19. Following the transaction, the director now owns 56,852 shares in the company, valued at $1,965,373.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.09% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banc Funds Co. LLC increased its holdings in shares of Sandy Spring Bancorp by 1.7% during the first quarter. Banc Funds Co. LLC now owns 844,793 shares of the bank’s stock valued at $26,425,000 after purchasing an additional 14,405 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Sandy Spring Bancorp by 38.4% during the first quarter. William Blair Investment Management LLC now owns 552,932 shares of the bank’s stock valued at $17,296,000 after purchasing an additional 153,428 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sandy Spring Bancorp by 9,406.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,700 shares of the bank’s stock valued at $241,000 after purchasing an additional 7,619 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Sandy Spring Bancorp by 156.9% during the first quarter. Acadian Asset Management LLC now owns 27,984 shares of the bank’s stock valued at $875,000 after purchasing an additional 17,092 shares during the period. Finally, LSV Asset Management increased its holdings in shares of Sandy Spring Bancorp by 6.1% during the first quarter. LSV Asset Management now owns 103,900 shares of the bank’s stock valued at $3,249,000 after purchasing an additional 6,002 shares during the period. 68.76% of the stock is owned by hedge funds and other institutional investors.

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 The company operates in three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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