Sandy Spring Bancorp, Inc. (SASR) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) from a hold rating to a buy rating in a report issued on Monday.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Sandy Spring Bancorp from a buy rating to a hold rating in a research report on Sunday, July 16th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a strong-buy rating to a hold rating in a research note on Wednesday, July 19th.
Sandy Spring Bancorp (SASR) opened at 41.89 on Monday. The company has a market cap of $1.00 billion, a PE ratio of 17.93 and a beta of 1.02. The company has a 50-day moving average price of $38.92 and a 200 day moving average price of $40.09. Sandy Spring Bancorp has a 12-month low of $27.86 and a 12-month high of $45.64.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. The firm had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, analysts forecast that Sandy Spring Bancorp will post $2.51 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. acquired a new position in Sandy Spring Bancorp in the 2nd quarter worth about $133,000. First Quadrant L P CA bought a new position in Sandy Spring Bancorp in the second quarter valued at about $146,000. BNP Paribas Arbitrage SA boosted its stake in shares of Sandy Spring Bancorp by 554.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock valued at $146,000 after purchasing an additional 3,038 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Sandy Spring Bancorp during the first quarter valued at about $177,000. Finally, QS Investors LLC boosted its stake in shares of Sandy Spring Bancorp by 27.3% during the second quarter. QS Investors LLC now owns 6,345 shares of the bank’s stock valued at $258,000 after purchasing an additional 1,362 shares in the last quarter. 67.60% of the stock is owned by institutional investors and hedge funds.
Sandy Spring Bancorp Company Profile
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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