Sandy Spring Bancorp (SASR) Rating Increased to Outperform at Boenning Scattergood

Boenning Scattergood upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a neutral rating to an outperform rating in a research note published on Monday, Marketbeat.com reports. Boenning Scattergood currently has $41.00 price target on the bank’s stock.

Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Sandy Spring Bancorp from a sell rating to a hold rating in a research note on Friday, October 19th. Robert W. Baird upgraded Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $44.00 target price for the company in a research note on Friday, October 19th. Finally, Zacks Investment Research cut Sandy Spring Bancorp from a hold rating to a sell rating in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $45.14.

Shares of NASDAQ:SASR opened at $35.51 on Monday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. Sandy Spring Bancorp has a 52-week low of $33.38 and a 52-week high of $43.87.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Tuesday, November 13th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 44.09%.

Several institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Sandy Spring Bancorp by 193.4% during the second quarter. Millennium Management LLC now owns 540,781 shares of the bank’s stock worth $22,177,000 after purchasing an additional 356,477 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in Sandy Spring Bancorp during the third quarter worth $11,671,000. Alliancebernstein L.P. lifted its stake in Sandy Spring Bancorp by 53.0% during the third quarter. Alliancebernstein L.P. now owns 841,736 shares of the bank’s stock worth $33,089,000 after purchasing an additional 291,680 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sandy Spring Bancorp by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,245,581 shares of the bank’s stock worth $92,092,000 after purchasing an additional 271,282 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Sandy Spring Bancorp by 10.2% during the second quarter. BlackRock Inc. now owns 2,889,039 shares of the bank’s stock worth $118,480,000 after purchasing an additional 267,422 shares during the last quarter. Institutional investors own 70.67% 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 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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