BidaskClub Lowers Sandy Spring Bancorp (SASR) to Sell

Sandy Spring Bancorp (NASDAQ:SASR) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Monday, February 4th.

Several other equities analysts also recently commented on SASR. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 19th. Sandler O’Neill lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating and set a $35.00 price objective for the company. in a report on Friday, January 18th. Gabelli reiterated a “buy” rating on shares of Sandy Spring Bancorp in a report on Friday, January 18th. Finally, Keefe, Bruyette & Woods lowered shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $44.00 to $35.00 in a report on Friday, January 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.00.

Shares of SASR opened at $34.96 on Monday. The stock has a market capitalization of $1.24 billion, a PE ratio of 12.22 and a beta of 0.72. Sandy Spring Bancorp has a fifty-two week low of $29.87 and a fifty-two week high of $43.87. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.06.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 17th. The bank reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). Sandy Spring Bancorp had a net margin of 26.19% and a return on equity of 10.10%. The company had revenue of $80.18 million during the quarter, compared to the consensus estimate of $81.94 million. During the same period in the previous year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Sandy Spring Bancorp will post 3.14 EPS for the current fiscal year.

In other Sandy Spring Bancorp news, Director Mark E. Friis purchased 1,000 shares of Sandy Spring Bancorp stock in a transaction that occurred on Tuesday, January 22nd. The stock was acquired at an average price of $31.86 per share, with a total value of $31,860.00. Following the transaction, the director now owns 11,235 shares in the company, valued at approximately $357,947.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronda M. Mcdowell sold 744 shares of Sandy Spring Bancorp stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the completion of the sale, the executive vice president now directly owns 6,034 shares of the company’s stock, valued at approximately $211,310.68. The disclosure for this sale can be found here. Company insiders own 3.31% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penn Capital Management Co. Inc. boosted its holdings in Sandy Spring Bancorp by 16.6% during the 4th quarter. Penn Capital Management Co. Inc. now owns 137,379 shares of the bank’s stock worth $4,305,000 after acquiring an additional 19,530 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Sandy Spring Bancorp by 87.7% during the 4th quarter. Advisory Services Network LLC now owns 1,520 shares of the bank’s stock worth $48,000 after acquiring an additional 710 shares during the last quarter. Legal & General Group Plc boosted its holdings in Sandy Spring Bancorp by 52.1% during the 4th quarter. Legal & General Group Plc now owns 17,023 shares of the bank’s stock worth $534,000 after acquiring an additional 5,830 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Sandy Spring Bancorp by 9.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 316,250 shares of the bank’s stock worth $9,911,000 after acquiring an additional 26,036 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Sandy Spring Bancorp by 327.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock worth $363,000 after acquiring an additional 8,869 shares during the last quarter. 69.04% of the stock is owned by institutional investors and hedge funds.

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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