BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 24th. ValuEngine lowered Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Monday, July 2nd. Finally, Sandler O’Neill raised Sandy Spring Bancorp from a hold rating to a buy rating in a research report on Tuesday, June 26th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $46.20.

Shares of SASR opened at $39.06 on Friday. Sandy Spring Bancorp has a 52-week low of $36.41 and a 52-week high of $43.87. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.07.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The business had revenue of $79.86 million during the quarter, compared to analyst estimates of $81.12 million. During the same period in the previous year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. sell-side analysts expect that Sandy Spring Bancorp will post 3.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 8th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is currently 44.09%.

In other Sandy Spring Bancorp news, Director Mark C. Michael sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $42.18, for a total value of $84,360.00. Following the transaction, the director now directly owns 43,000 shares of the company’s stock, valued at approximately $1,813,740. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark C. Michael sold 1,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $40.79, for a total value of $40,790.00. Following the completion of the transaction, the director now directly owns 31,000 shares in the company, valued at $1,264,490. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,735 shares of company stock valued at $783,842. Company insiders own 3.31% of the company’s stock.

A number of hedge funds have recently modified their holdings of SASR. SG Americas Securities LLC acquired a new position in Sandy Spring Bancorp in the 1st quarter worth about $111,000. Highlander Capital Management LLC acquired a new position in Sandy Spring Bancorp in the 1st quarter worth about $186,000. Canandaigua National Bank & Trust Co. acquired a new position in Sandy Spring Bancorp in the 1st quarter worth about $217,000. Hartford Investment Management Co. acquired a new position in Sandy Spring Bancorp in the 2nd quarter worth about $246,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Sandy Spring Bancorp in the 2nd quarter worth about $264,000. 68.71% 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 banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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