Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Receives Consensus Rating of “Hold” from Analysts

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.00.

Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Piper Sandler upgraded Sandy Spring Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $34.00 to $41.00 in a report on Monday, January 25th.

Several institutional investors have recently made changes to their positions in SASR. BlackRock Inc. increased its stake in Sandy Spring Bancorp by 2.7% in the 4th quarter. BlackRock Inc. now owns 4,386,212 shares of the bank’s stock worth $141,191,000 after purchasing an additional 116,562 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Sandy Spring Bancorp by 12.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,604,130 shares of the bank’s stock worth $83,827,000 after buying an additional 280,397 shares during the last quarter. Alliancebernstein L.P. increased its position in Sandy Spring Bancorp by 6.2% during the 4th quarter. Alliancebernstein L.P. now owns 798,818 shares of the bank’s stock valued at $25,714,000 after purchasing an additional 46,338 shares during the period. Norges Bank purchased a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth about $17,360,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Sandy Spring Bancorp by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 374,719 shares of the bank’s stock worth $12,063,000 after buying an additional 19,193 shares in the last quarter. 60.89% of the stock is owned by institutional investors.

NASDAQ:SASR traded down $0.16 on Wednesday, hitting $43.45. The company had a trading volume of 114,329 shares, compared to its average volume of 174,757. Sandy Spring Bancorp has a 52 week low of $18.79 and a 52 week high of $44.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.01 and a beta of 1.11. The firm has a 50 day moving average of $42.26 and a two-hundred day moving average of $33.80.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Wednesday, January 20th. The bank reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.26. The business had revenue of $132.06 million during the quarter, compared to the consensus estimate of $124.62 million. Sandy Spring Bancorp had a net margin of 14.12% and a return on equity of 7.29%. As a group, equities analysts forecast that Sandy Spring Bancorp will post 2.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 24th. Stockholders of record on Wednesday, February 17th were issued a $0.32 dividend. This is a boost from Sandy Spring Bancorp’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Tuesday, February 16th. Sandy Spring Bancorp’s dividend payout ratio is presently 39.02%.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.

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