Sandy Spring Bancorp (SASR) Given a $44.00 Price Target by Sandler O’Neill Analysts
Sandy Spring Bancorp (NASDAQ:SASR) has been given a $44.00 target price by equities researchers at Sandler O’Neill in a note issued to investors on Friday. The firm presently has a “hold” rating on the bank’s stock. Sandler O’Neill’s price objective points to a potential upside of 8.64% from the stock’s previous close.
Several other analysts have also commented on the company. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. Zacks Investment Research upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 23rd. ValuEngine upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Gabelli initiated coverage on Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 price objective for the company. Finally, BidaskClub upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $44.75.
Shares of Sandy Spring Bancorp (NASDAQ:SASR) opened at $40.50 on Friday. Sandy Spring Bancorp has a twelve month low of $36.50 and a twelve month high of $45.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $971.74, a price-to-earnings ratio of 16.80, a PEG ratio of 0.91 and a beta of 0.99.
A number of hedge funds have recently modified their holdings of the stock. Dalton Greiner Hartman Maher & Co. raised its stake in Sandy Spring Bancorp by 6.1% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock worth $25,311,000 after acquiring an additional 37,386 shares during the last quarter. Sterling Capital Management LLC purchased a new position in Sandy Spring Bancorp in the 3rd quarter worth $1,154,000. Magnetar Financial LLC purchased a new position in Sandy Spring Bancorp in the 3rd quarter worth $203,000. OxFORD Asset Management LLP raised its stake in Sandy Spring Bancorp by 112.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 45,876 shares of the bank’s stock worth $1,899,000 after acquiring an additional 24,292 shares during the last quarter. Finally, KBC Group NV purchased a new position in Sandy Spring Bancorp in the 3rd quarter worth $139,000. Institutional investors own 70.37% of the company’s stock.
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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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