Sandy Spring Bancorp (NASDAQ:SASR) Rating Lowered to Sell at StockNews.com

Sandy Spring Bancorp (NASDAQ:SASR) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other brokerages have also issued reports on SASR. Keefe, Bruyette & Woods lifted their target price on 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 lifted their price objective 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. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.00.

Sandy Spring Bancorp Trading Down 1.3 %

Shares of NASDAQ SASR opened at $31.02 on Tuesday. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $31.85. The firm has a market capitalization of $1.40 billion, a P/E ratio of 15.21 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. The company’s 50 day simple moving average is $27.31 and its 200 day simple moving average is $23.91.

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, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $99.60 million. During the same quarter in the prior year, the business posted $0.60 EPS. On average, analysts predict that Sandy Spring Bancorp will post 1.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund grew its stake in shares of 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 buying an additional 7,823 shares in the last quarter. Truist Financial Corp grew its position in shares of Sandy Spring Bancorp by 2.7% in the 4th quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock valued at $1,050,000 after acquiring an additional 1,026 shares during the period. M&T Bank Corp acquired a new position in shares of Sandy Spring Bancorp during the 4th quarter worth about $257,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Sandy Spring Bancorp by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock valued at $15,816,000 after purchasing an additional 40,374 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Sandy Spring Bancorp by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock valued at $61,033,000 after purchasing an additional 52,454 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors.

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.