Sandy Spring Bancorp (NASDAQ:SASR) Rating Increased to Hold at StockNews.com

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

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods boosted their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. DA Davidson boosted their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $25.00 price target on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.00.

Sandy Spring Bancorp Price Performance

Sandy Spring Bancorp stock opened at $29.22 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $26.69 and its 200 day simple moving average is $23.70. Sandy Spring Bancorp has a 12 month low of $19.27 and a 12 month high of $31.83. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 14.32 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.08. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. The company had revenue of $184.70 million during the quarter, compared to the consensus estimate of $99.60 million. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts forecast that Sandy Spring Bancorp will post 1.93 EPS for the current year.

Institutional Investors Weigh In On Sandy Spring Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in SASR. Mirae Asset Global Investments Co. Ltd. increased its stake in Sandy Spring Bancorp by 7.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,104 shares of the bank’s stock worth $548,000 after acquiring an additional 1,327 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Sandy Spring Bancorp by 54.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 90,130 shares of the bank’s stock worth $2,455,000 after purchasing an additional 31,672 shares during the last quarter. New York State Common Retirement Fund raised its stake in Sandy Spring Bancorp by 11.3% in the fourth quarter. New York State Common Retirement Fund now owns 77,067 shares of the bank’s stock valued at $2,099,000 after purchasing an additional 7,823 shares in the last quarter. Truist Financial Corp grew its stake in Sandy Spring Bancorp by 2.7% in the 4th quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock worth $1,050,000 after buying an additional 1,026 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in Sandy Spring Bancorp in the 4th quarter worth approximately $257,000. Hedge funds and other 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.