Sandy Spring Bancorp, Inc. (NASDAQ:SASR) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, July 25th.

Shares of Sandy Spring Bancorp (NASDAQ:SASR) traded down 2.25% on Thursday, reaching $36.88. 64,438 shares of the company’s stock traded hands. Sandy Spring Bancorp has a 52 week low of $27.86 and a 52 week high of $45.64. The firm has a market capitalization of $884.64 million, a P/E ratio of 15.79 and a beta of 1.02. The company’s 50-day moving average is $38.92 and its 200-day moving average is $40.55.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. During the same period in the previous year, the company earned $0.44 earnings per share. Equities research analysts anticipate that Sandy Spring Bancorp will post $2.51 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in Sandy Spring Bancorp by 197,021.4% during the second quarter. Bank of Montreal Can now owns 27,597 shares of the bank’s stock worth $1,123,000 after acquiring an additional 27,583 shares during the period. Dalton Greiner Hartman Maher & Company increased its position in Sandy Spring Bancorp by 3.4% during the fourth quarter. Dalton Greiner Hartman Maher & Company now owns 664,860 shares of the bank’s stock worth $17,925,000 after acquiring an additional 21,804 shares during the period. Menta Capital LLC bought a new position in Sandy Spring Bancorp during the fourth quarter worth $296,000. M&T Bank Corp increased its position in Sandy Spring Bancorp by 12.1% during the first quarter. M&T Bank Corp now owns 15,598 shares of the bank’s stock worth $435,000 after acquiring an additional 1,683 shares during the period. Finally, Renaissance Technologies LLC increased its position in Sandy Spring Bancorp by 13.4% during the fourth quarter. Renaissance Technologies LLC now owns 292,900 shares of the bank’s stock worth $11,713,000 after acquiring an additional 34,500 shares during the period. 68.14% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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