Gabelli assumed coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a report released on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $50.00 price objective on the bank’s stock. Gabelli also issued estimates for Sandy Spring Bancorp’s FY2017 earnings at $2.50 EPS, FY2018 earnings at $2.85 EPS, FY2019 earnings at $3.25 EPS, FY2020 earnings at $3.55 EPS and FY2021 earnings at $3.85 EPS.

Several other research analysts also recently commented on SASR. Zacks Investment Research raised Sandy Spring Bancorp from a hold rating to a strong-buy rating and set a $45.00 price target on the stock in a research report on Thursday, January 4th. BidaskClub raised Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Wednesday, January 3rd. Boenning Scattergood reaffirmed a hold rating on shares of Sandy Spring Bancorp in a research report on Tuesday, January 2nd. Finally, ValuEngine raised Sandy Spring Bancorp from a hold rating to a buy rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $45.00.

Shares of Sandy Spring Bancorp (NASDAQ:SASR) traded up $0.54 during mid-day trading on Monday, hitting $40.25. The company had a trading volume of 312,500 shares, compared to its average volume of 257,788. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp has a 1-year low of $36.50 and a 1-year high of $45.64. The company has a market cap of $936.23, a P/E ratio of 16.70 and a beta of 0.99.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). The business had revenue of $55.44 million during the quarter, compared to the consensus estimate of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. During the same period in the prior year, the firm earned $0.56 earnings per share. sell-side analysts predict that Sandy Spring Bancorp will post 2.4 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Sandy Spring Bancorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock worth $75,534,000 after purchasing an additional 35,355 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after purchasing an additional 10,359 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Sandy Spring Bancorp by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock worth $39,137,000 after purchasing an additional 25,663 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Sandy Spring Bancorp by 13.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after purchasing an additional 98,650 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Sandy Spring Bancorp by 6.1% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after purchasing an additional 37,386 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.

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About Sandy Spring Bancorp

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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