Sandy Spring Bancorp (NASDAQ:SASR) Given New $33.00 Price Target at DA Davidson

Sandy Spring Bancorp (NASDAQ:SASR) had its price target hoisted by DA Davidson from $23.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Sandy Spring Bancorp’s Q3 2024 earnings at $0.48 EPS and FY2025 earnings at $2.75 EPS.

Several other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a market perform rating in a report on Thursday. StockNews.com cut shares of Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Monday, July 8th. Finally, Stephens reaffirmed an equal weight rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $27.00.

Sandy Spring Bancorp Stock Performance

NASDAQ SASR opened at $30.92 on Thursday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 15.16 and a beta of 0.97. The company has a 50-day simple moving average of $24.53 and a two-hundred day simple moving average of $23.31. The company has a quick ratio of 1.02, a current ratio of 1.03 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 $31.71.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.08. The company had revenue of $184.70 million during the quarter, compared to analysts’ expectations of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.44% and a net margin of 12.31%. During the same period in the prior year, the business posted $0.60 EPS. On average, equities analysts forecast that Sandy Spring Bancorp will post 1.93 EPS for the current year.

Institutional Trading of Sandy Spring Bancorp

Large investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new position in Sandy Spring Bancorp in the 4th quarter worth $77,000. EntryPoint Capital LLC bought a new position in Sandy Spring Bancorp in the first quarter worth about $98,000. SG Americas Securities LLC purchased a new stake in Sandy Spring Bancorp in the first quarter worth about $122,000. CWM LLC boosted its position in Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after acquiring an additional 2,073 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth approximately $144,000. Institutional investors own 66.90% 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 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.