Sandler O’Neill Reiterates “$44.00” Price Target for Sandy Spring Bancorp (SASR)

Sandy Spring Bancorp (NASDAQ:SASR) has been given a $44.00 price objective by research analysts at Sandler O’Neill in a report released on Friday. The firm currently has a “hold” rating on the bank’s stock. Sandler O’Neill’s price objective suggests a potential upside of 8.64% from the company’s previous close.

A number of other brokerages have also recently weighed in on SASR. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Gabelli began coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sandy Spring Bancorp presently has an average rating of “Hold” and an average price target of $44.75.

Shares of Sandy Spring Bancorp (SASR) opened at $40.50 on Friday. The firm has a market cap of $971.74, a price-to-earnings ratio of 16.80, a P/E/G ratio of 0.91 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03. Sandy Spring Bancorp has a 52 week low of $36.50 and a 52 week high of $45.64.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The business had revenue of $55.44 million for the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. During the same quarter in the prior year, the company earned $0.56 EPS. analysts forecast that Sandy Spring Bancorp will post 2.43 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Sandy Spring Bancorp by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock worth $75,534,000 after acquiring an additional 35,355 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sandy Spring Bancorp by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after acquiring an additional 10,359 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Sandy Spring Bancorp by 2.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock worth $39,137,000 after acquiring an additional 25,663 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Sandy Spring Bancorp by 13.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after acquiring an additional 98,650 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Sandy Spring Bancorp by 6.1% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after acquiring an additional 37,386 shares during the period. Institutional investors own 70.37% of the company’s stock.

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About Sandy Spring Bancorp

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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