Analysts Set Sandy Spring Bancorp, Inc. (NASDAQ:SASR) PT at $27.00

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $27.00.

Several research analysts have weighed in on SASR shares. DA Davidson upped their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th.

Sandy Spring Bancorp Stock Up 2.8 %

Sandy Spring Bancorp stock opened at $33.03 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.49 billion, a PE ratio of 15.99 and a beta of 0.96. The firm’s fifty day moving average is $29.65 and its 200 day moving average is $24.87. Sandy Spring Bancorp has a 12-month low of $19.27 and a 12-month high of $33.08.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. The company had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, sell-side analysts predict that Sandy Spring Bancorp will post 1.93 EPS for the current fiscal year.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s payout ratio is 66.67%.

Institutional Trading of Sandy Spring Bancorp

Hedge funds have recently bought and sold shares of the business. Carmichael Hill & Associates Inc. raised its holdings in shares of Sandy Spring Bancorp by 3.6% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock worth $287,000 after purchasing an additional 412 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Sandy Spring Bancorp by 2.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock valued at $620,000 after buying an additional 723 shares during the last quarter. Truist Financial Corp grew its stake in shares of Sandy Spring Bancorp by 2.6% during the 2nd quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock worth $1,065,000 after acquiring an additional 1,104 shares during the period. Commonwealth Equity Services LLC increased its holdings in Sandy Spring Bancorp by 9.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock worth $321,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in Sandy Spring Bancorp by 8.2% in the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock worth $402,000 after acquiring an additional 1,316 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.