Sandy Spring Bancorp, Inc. (NASDAQ:SASR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $41.00 target price on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.13% from the company’s current price.

According to Zacks, “SANDY SPRING is a bank holding company for Sandy Spring National Bank of Maryland. The bank is community oriented, and conducts a full-service commercial banking business through community offices located in Montgomery, Howard, Prince George’s and Anne Arundel counties in Maryland. “

Other equities analysts have also issued reports about the company. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th.

Shares of Sandy Spring Bancorp (SASR) opened at 37.23 on Friday. The company has a market capitalization of $893.04 million, a P/E ratio of 15.94 and a beta of 1.02. Sandy Spring Bancorp has a 1-year low of $27.86 and a 1-year high of $45.64. The company has a 50-day moving average price of $38.84 and a 200 day moving average price of $40.53.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a return on equity of 10.44% and a net margin of 24.33%. The firm had revenue of $55.90 million during the quarter, compared to analyst estimates of $55.53 million. During the same period last year, the company earned $0.44 earnings per share. Equities research analysts anticipate that Sandy Spring Bancorp will post $2.51 EPS for the current year.

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Several institutional investors have recently bought and sold shares of SASR. Teachers Advisors LLC raised its position in shares of Sandy Spring Bancorp by 32.5% in the fourth quarter. Teachers Advisors LLC now owns 49,093 shares of the bank’s stock worth $1,963,000 after buying an additional 12,028 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Sandy Spring Bancorp by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 9,694 shares of the bank’s stock worth $397,000 after buying an additional 500 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Sandy Spring Bancorp by 18.5% in the first quarter. Russell Investments Group Ltd. now owns 23,100 shares of the bank’s stock worth $947,000 after buying an additional 3,600 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Sandy Spring Bancorp by 15.0% in the first quarter. Wells Fargo & Company MN now owns 66,823 shares of the bank’s stock worth $2,739,000 after buying an additional 8,736 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Sandy Spring Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 44,132 shares of the bank’s stock worth $1,809,000 after buying an additional 3,797 shares in the last quarter. 68.14% of the stock is owned by hedge funds and other institutional investors.

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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