Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Thursday. The bank reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07), Bloomberg Earnings reports. Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. During the same period in the prior year, the company earned $0.34 EPS.

Shares of Sandy Spring Bancorp stock traded down $2.19 during trading on Thursday, hitting $32.05. The stock had a trading volume of 298,283 shares, compared to its average volume of 118,833. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.91 and a beta of 0.81. Sandy Spring Bancorp has a fifty-two week low of $29.87 and a fifty-two week high of $43.87.

A number of research analysts recently commented on SASR shares. Robert W. Baird upgraded Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Friday, October 19th. BidaskClub cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 25th. Boenning Scattergood raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Monday, November 19th. Finally, Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.40.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Sandy Spring Bancorp by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock worth $9,857,000 after purchasing an additional 2,495 shares during the last quarter. SG Americas Securities LLC grew its stake in Sandy Spring Bancorp by 220.9% in the 2nd quarter. SG Americas Securities LLC now owns 9,219 shares of the bank’s stock valued at $378,000 after buying an additional 6,346 shares in the last quarter. BlackRock Inc. grew its stake in Sandy Spring Bancorp by 10.2% in the 2nd quarter. BlackRock Inc. now owns 2,889,039 shares of the bank’s stock valued at $118,480,000 after buying an additional 267,422 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Sandy Spring Bancorp in the 2nd quarter valued at approximately $264,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in Sandy Spring Bancorp by 21.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock valued at $475,000 after buying an additional 2,040 shares in the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.

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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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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Earnings History for Sandy Spring Bancorp (NASDAQ:SASR)

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