Sandy Spring Bancorp (SASR) Rating Reiterated by Boenning Scattergood

Sandy Spring Bancorp (NASDAQ:SASR)‘s stock had its “hold” rating reaffirmed by analysts at Boenning Scattergood in a note issued to investors on Thursday.

Several other research firms also recently weighed in on SASR. ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the company a “hold” rating in a research note on Friday, January 12th. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Gabelli assumed coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $44.75.

Sandy Spring Bancorp (NASDAQ:SASR) traded down $0.17 during trading on Thursday, hitting $40.25. 254,921 shares of the stock traded hands, compared to its average volume of 298,185. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.12. Sandy Spring Bancorp has a 1 year low of $36.50 and a 1 year high of $45.64. The company has a market capitalization of $965.74, a P/E ratio of 18.30, a PEG ratio of 0.89 and a beta of 0.99.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The firm had revenue of $55.79 million during the quarter, compared to the consensus estimate of $56.21 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. research analysts expect that Sandy Spring Bancorp will post 2.49 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of SASR. Schwab Charles Investment Management Inc. increased its holdings in Sandy Spring Bancorp by 42.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock valued at $5,865,000 after buying an additional 43,299 shares during the period. Bank of New York Mellon Corp increased its holdings in Sandy Spring Bancorp by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 275,394 shares of the bank’s stock valued at $11,198,000 after buying an additional 23,956 shares during the period. Legal & General Group Plc increased its holdings in Sandy Spring Bancorp by 2.1% during the second quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock valued at $365,000 after buying an additional 182 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Sandy Spring Bancorp by 554.4% during the second quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock valued at $146,000 after buying an additional 3,038 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Sandy Spring Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock valued at $206,000 after buying an additional 759 shares during the period. 70.37% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Sandy Spring Bancorp (SASR) Rating Reiterated by Boenning Scattergood” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2018/01/19/sandy-spring-bancorp-sasr-rating-reiterated-by-boenning-scattergood.html.

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.

Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply