BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a research note published on Friday, BidAskClub reports.

SASR has been the topic of several other research reports. Zacks Investment Research raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Tuesday, January 15th. Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an outperform rating to a market perform rating and dropped their target price for the stock from $44.00 to $35.00 in a research report on Friday, January 18th. Sandler O’Neill downgraded shares of Sandy Spring Bancorp from a buy rating to a hold rating and set a $35.00 target price on the stock. in a research report on Friday, January 18th. Finally, Gabelli reissued a buy rating on shares of Sandy Spring Bancorp in a research report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $40.00.

NASDAQ SASR opened at $33.52 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $1.20 billion, a P/E ratio of 11.72 and a beta of 0.77. Sandy Spring Bancorp has a 52 week low of $29.83 and a 52 week high of $43.87.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, April 18th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.10. The company had revenue of $84.96 million for the quarter, compared to the consensus estimate of $79.97 million. Sandy Spring Bancorp had a net margin of 26.19% and a return on equity of 10.00%. Sandy Spring Bancorp’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Research analysts forecast that Sandy Spring Bancorp will post 3.14 earnings per share for the current fiscal year.

In other Sandy Spring Bancorp news, Director Mark E. Friis acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, January 22nd. The shares were acquired at an average cost of $31.86 per share, with a total value of $31,860.00. Following the acquisition, the director now directly owns 11,235 shares of the company’s stock, valued at $357,947.10. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronda M. Mcdowell sold 744 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the completion of the sale, the executive vice president now directly owns 6,034 shares in the company, valued at $211,310.68. The disclosure for this sale can be found here. 2.09% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Sandy Spring Bancorp in the 1st quarter valued at $28,000. Quantamental Technologies LLC purchased a new stake in Sandy Spring Bancorp during the fourth quarter worth $47,000. Advisory Services Network LLC boosted its holdings in Sandy Spring Bancorp by 87.7% during the fourth quarter. Advisory Services Network LLC now owns 1,520 shares of the bank’s stock worth $48,000 after buying an additional 710 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Sandy Spring Bancorp during the third quarter worth $170,000. Finally, First Republic Investment Management Inc. purchased a new stake in Sandy Spring Bancorp during the third quarter worth $215,000. 69.09% of the stock is currently owned by institutional investors and hedge funds.

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 The company operates in three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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