Analysts Set Sandy Spring Bancorp, Inc. (NASDAQ:SASR) PT at $27.00

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $27.00.

A number of research firms have recently commented on SASR. DA Davidson raised their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. StockNews.com downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th.

Sandy Spring Bancorp Trading Up 2.8 %

Shares of SASR stock opened at $33.03 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.99 and a beta of 0.96. The company’s fifty day simple moving average is $29.65 and its two-hundred day simple moving average is $24.87. Sandy Spring Bancorp has a 1 year low of $19.27 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. The business had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. During the same quarter in the prior year, the firm posted $0.60 EPS. As a group, analysts anticipate that Sandy Spring Bancorp will post 1.93 earnings per share for the current year.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a yield of 4.12%. Sandy Spring Bancorp’s payout ratio is presently 66.67%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. increased its position in shares of Sandy Spring Bancorp by 3.6% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after purchasing an additional 412 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sandy Spring Bancorp by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock worth $620,000 after buying an additional 723 shares during the last quarter. Truist Financial Corp boosted its stake in Sandy Spring Bancorp by 2.6% in the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock worth $1,065,000 after buying an additional 1,104 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Sandy Spring Bancorp by 9.8% during the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock valued at $321,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Sandy Spring Bancorp by 8.2% during the first quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock worth $402,000 after acquiring an additional 1,316 shares in the last quarter. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.