Sandy Spring Bancorp (SASR) Lifted to Hold at Zacks Investment Research

Sandy Spring Bancorp (NASDAQ:SASR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “SANDY SPRING is a bank holding company for Sandy Spring National Bank of Maryland. The bank is community oriented, and conducts a full-service commercial banking business through community offices located in Montgomery, Howard, Prince George’s and Anne Arundel counties in Maryland. “

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Boenning Scattergood reissued a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. Finally, BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.00.

Sandy Spring Bancorp (NASDAQ:SASR) opened at $39.30 on Friday. The company has a market cap of $945.83, a price-to-earnings ratio of 16.31 and a beta of 0.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. Sandy Spring Bancorp has a 1 year low of $36.50 and a 1 year high of $45.64.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. The company had revenue of $55.44 million during the quarter, compared to analysts’ expectations of $58.34 million. During the same quarter last year, the firm posted $0.56 earnings per share. sell-side analysts anticipate that Sandy Spring Bancorp will post 2.38 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC bought a new position in shares of Sandy Spring Bancorp during the third quarter valued at about $1,154,000. Magnetar Financial LLC bought a new position in shares of Sandy Spring Bancorp during the third quarter valued at about $203,000. OxFORD Asset Management LLP raised its stake in shares of Sandy Spring Bancorp by 112.5% during the third quarter. OxFORD Asset Management LLP now owns 45,876 shares of the bank’s stock valued at $1,899,000 after acquiring an additional 24,292 shares during the last quarter. KBC Group NV bought a new position in shares of Sandy Spring Bancorp during the third quarter valued at about $139,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sandy Spring Bancorp by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock valued at $75,534,000 after acquiring an additional 35,355 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

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Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.

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