Stephens Reaffirms Equal Weight Rating for Sandy Spring Bancorp (NASDAQ:SASR)

Stephens reissued their equal weight rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued to investors on Wednesday, Benzinga reports. Stephens currently has a $25.00 target price on the bank’s stock.

A number of other research analysts have also issued reports on SASR. StockNews.com raised Sandy Spring Bancorp from a sell rating to a hold rating in a report on Thursday, January 18th. Janney Montgomery Scott started coverage on shares of Sandy Spring Bancorp in a research note on Friday, March 1st. They set a neutral rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $23.50.

Sandy Spring Bancorp Trading Up 0.6 %

Shares of SASR stock opened at $21.49 on Wednesday. Sandy Spring Bancorp has a 1 year low of $19.27 and a 1 year high of $27.90. The firm has a market capitalization of $967.05 million, a PE ratio of 10.53 and a beta of 0.94. The stock has a fifty day moving average of $21.57 and a two-hundred day moving average of $22.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.69%. The business had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, research analysts expect that Sandy Spring Bancorp will post 2.07 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Tuesday, May 7th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Trading of Sandy Spring Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC lifted its position in shares of Sandy Spring Bancorp by 22.9% in the first quarter. SteelPeak Wealth LLC now owns 9,845 shares of the bank’s stock worth $228,000 after buying an additional 1,836 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Sandy Spring Bancorp by 19.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 15,450 shares of the bank’s stock valued at $358,000 after acquiring an additional 2,464 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Sandy Spring Bancorp in the 1st quarter worth approximately $220,000. PNC Financial Services Group Inc. boosted its position in Sandy Spring Bancorp by 3.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 50,876 shares of the bank’s stock worth $1,386,000 after purchasing an additional 1,578 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Sandy Spring Bancorp by 16.3% during the fourth quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock valued at $8,541,000 after purchasing an additional 43,987 shares during the last quarter. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.