Sandy Spring Bancorp Inc. (NASDAQ:SASR) Receives Consensus Recommendation of “Hold” from Analysts

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Shares of Sandy Spring Bancorp Inc. (NASDAQ:SASR) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.00.

Several equities research analysts recently issued reports on SASR shares. ValuEngine lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Zacks Investment Research lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Stephens reaffirmed an “equal weight” rating and issued a $29.00 target price on shares of Sandy Spring Bancorp in a research report on Tuesday, June 30th. Piper Sandler started coverage on Sandy Spring Bancorp in a research report on Monday, August 3rd. They issued a “neutral” rating on the stock. Finally, BidaskClub lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday.

Several institutional investors and hedge funds have recently modified their holdings of SASR. Vanguard Group Inc. increased its holdings in shares of Sandy Spring Bancorp by 31.8% during the second quarter. Vanguard Group Inc. now owns 2,482,436 shares of the bank’s stock valued at $61,516,000 after purchasing an additional 599,088 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Sandy Spring Bancorp by 49.5% during the second quarter. Macquarie Group Ltd. now owns 784,140 shares of the bank’s stock valued at $19,431,000 after purchasing an additional 259,736 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Sandy Spring Bancorp by 45.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 347,870 shares of the bank’s stock valued at $8,621,000 after purchasing an additional 108,039 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Sandy Spring Bancorp by 185.8% during the first quarter. JPMorgan Chase & Co. now owns 127,802 shares of the bank’s stock valued at $2,893,000 after purchasing an additional 83,087 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Sandy Spring Bancorp by 16.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 512,201 shares of the bank’s stock valued at $11,596,000 after purchasing an additional 71,118 shares during the period. 62.41% of the stock is currently owned by institutional investors.

Shares of SASR stock traded up $0.57 on Tuesday, hitting $24.81. 166,896 shares of the stock traded hands, compared to its average volume of 209,271. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.17 billion, a PE ratio of 15.60, a PEG ratio of 3.37 and a beta of 1.07. Sandy Spring Bancorp has a 1-year low of $18.00 and a 1-year high of $38.45. The company’s fifty day moving average is $24.02 and its 200 day moving average is $24.73.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.73). The firm had revenue of $124.44 million for the quarter, compared to analyst estimates of $104.50 million. Sandy Spring Bancorp had a net margin of 11.88% and a return on equity of 6.35%. As a group, equities research analysts expect that Sandy Spring Bancorp will post 1.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Tuesday, August 11th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 36.59%.

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.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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