BidaskClub Downgrades Sandy Spring Bancorp (SASR) to Strong Sell

Sandy Spring Bancorp (NASDAQ:SASR) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

SASR has been the topic of a number of other research reports. ValuEngine downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Zacks Investment Research downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Sandy Spring Bancorp has a consensus rating of “Hold” and an average price target of $46.20.

Shares of NASDAQ SASR opened at $39.01 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.07. Sandy Spring Bancorp has a 1-year low of $36.41 and a 1-year high of $43.87. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.12 and a beta of 0.68.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, July 19th. The bank reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.12). Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The business had revenue of $79.86 million during the quarter, compared to analysts’ expectations of $81.12 million. During the same quarter in the previous year, the company posted $0.61 EPS. The company’s revenue was up 41.3% compared to the same quarter last year. research analysts expect that Sandy Spring Bancorp will post 3.15 earnings per share for the current fiscal year.

In related news, Director Mark C. Michael sold 1,735 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $39.54, for a total value of $68,601.90. Following the completion of the sale, the director now directly owns 22,000 shares of the company’s stock, valued at approximately $869,880. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark C. Michael sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $41.95, for a total value of $41,950.00. Following the completion of the sale, the director now directly owns 28,000 shares of the company’s stock, valued at $1,174,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,735 shares of company stock worth $279,262. Company insiders own 3.31% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC boosted its position in shares of Sandy Spring Bancorp by 186.3% in the 2nd quarter. Citadel Advisors LLC now owns 92,113 shares of the bank’s stock valued at $3,777,000 after purchasing an additional 59,944 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sandy Spring Bancorp in the 2nd quarter valued at about $505,000. Sandy Spring Bank acquired a new stake in shares of Sandy Spring Bancorp in the 2nd quarter valued at about $7,107,000. California State Teachers Retirement System boosted its position in shares of Sandy Spring Bancorp by 584.2% in the 1st quarter. California State Teachers Retirement System now owns 49,206 shares of the bank’s stock valued at $1,907,000 after purchasing an additional 42,014 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Sandy Spring Bancorp by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 12,778 shares of the bank’s stock valued at $524,000 after purchasing an additional 1,754 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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