Sandy Spring Bancorp (SASR) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Gabelli reiterated a buy rating on shares of Sandy Spring Bancorp in a research note on Friday, January 18th. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research note on Tuesday, January 15th. Sandler O’Neill cut shares of Sandy Spring Bancorp from a buy rating to a hold rating and set a $35.00 target price for the company. in a research note on Friday, January 18th. Finally, Keefe, Bruyette & Woods cut shares of Sandy Spring Bancorp from an outperform rating to a market perform rating and decreased their price objective for the company from $44.00 to $35.00 in a research note on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Sandy Spring Bancorp has a consensus rating of Hold and an average price target of $40.00.

SASR stock opened at $33.52 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of 11.72 and a beta of 0.77. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.83. Sandy Spring Bancorp has a 52 week low of $29.83 and a 52 week high of $43.87.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, April 18th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $84.96 million during the quarter, compared to analysts’ expectations of $79.97 million. Sandy Spring Bancorp had a net margin of 27.54% and a return on equity of 10.11%. Sandy Spring Bancorp’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. As a group, equities research analysts forecast that Sandy Spring Bancorp will post 3.14 EPS for the current fiscal year.

In other Sandy Spring Bancorp news, Director Mark E. Friis acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was acquired at an average cost of $31.86 per share, for a total transaction of $31,860.00. Following the purchase, the director now owns 11,235 shares in the company, valued at approximately $357,947.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ronda M. Mcdowell sold 744 shares of Sandy Spring Bancorp stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the sale, the executive vice president now owns 6,034 shares of the company’s stock, valued at $211,310.68. The disclosure for this sale can be found here. Insiders own 2.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SASR. JPMorgan Chase & Co. lifted its stake in Sandy Spring Bancorp by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,643 shares of the bank’s stock valued at $1,205,000 after acquiring an additional 3,583 shares during the period. Credit Suisse AG increased its holdings in shares of Sandy Spring Bancorp by 29.8% during the 3rd quarter. Credit Suisse AG now owns 26,404 shares of the bank’s stock valued at $1,038,000 after purchasing an additional 6,058 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $170,000. First Republic Investment Management Inc. purchased a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $215,000. Finally, Paloma Partners Management Co purchased a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $344,000. Institutional investors and hedge funds own 69.09% of the company’s stock.

About Sandy Spring Bancorp

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.

Featured Story: How to find the components of the quick ratio

Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.