Sandy Spring Bancorp (SASR) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Sandy Spring Bancorp (NASDAQ:SASR) from a hold rating to a sell rating in a research report report published on Friday.

SASR has been the topic of several other research reports. Boenning Scattergood upgraded Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $41.00 price target on the stock in a report on Monday, November 19th. Zacks Investment Research lowered Sandy Spring Bancorp from a hold rating to a sell rating in a report on Tuesday, October 23rd. Finally, Robert W. Baird upgraded Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $44.00 target price on the stock in a report on Friday, October 19th. Three equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $45.14.

Shares of Sandy Spring Bancorp stock traded down $0.14 on Friday, hitting $33.85. 87,952 shares of the company’s stock traded hands, compared to its average volume of 87,156. Sandy Spring Bancorp has a one year low of $33.07 and a one year high of $43.87. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.97 and a beta of 0.67.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.02). The firm had revenue of $82.62 million during the quarter, compared to the consensus estimate of $82.74 million. Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. During the same quarter in the previous year, the company posted $0.62 EPS. On average, sell-side analysts expect that Sandy Spring Bancorp will post 3.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.31%. Sandy Spring Bancorp’s dividend payout ratio is presently 44.09%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC increased its position in shares of Sandy Spring Bancorp by 10.2% during the second quarter. MetLife Investment Advisors LLC now owns 16,080 shares of the bank’s stock valued at $659,000 after acquiring an additional 1,493 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Sandy Spring Bancorp by 2.6% during the third quarter. Teachers Advisors LLC now owns 66,309 shares of the bank’s stock valued at $2,607,000 after acquiring an additional 1,675 shares during the last quarter. Victory Capital Management Inc. increased its position in Sandy Spring Bancorp by 15.9% in the second quarter. Victory Capital Management Inc. now owns 12,778 shares of the bank’s stock worth $524,000 after buying an additional 1,754 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in Sandy Spring Bancorp by 21.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock worth $475,000 after buying an additional 2,040 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Sandy Spring Bancorp by 6.8% in the second quarter. Rhumbline Advisers now owns 37,142 shares of the bank’s stock worth $1,523,000 after buying an additional 2,355 shares during the last quarter. 69.09% of the stock is owned by 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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