ValuEngine cut shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) from a buy rating to a hold rating in a research report released on Thursday.
Several other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Tuesday, July 25th.
Shares of Sandy Spring Bancorp (SASR) opened at 37.23 on Thursday. Sandy Spring Bancorp has a 12-month low of $27.86 and a 12-month high of $45.64. The stock has a market cap of $893.04 million, a P/E ratio of 15.94 and a beta of 1.02. The company’s 50-day moving average is $38.84 and its 200-day moving average is $40.53.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business had revenue of $55.90 million for the quarter, compared to analysts’ expectations of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same quarter in the prior year, the business earned $0.44 EPS. On average, equities research analysts anticipate that Sandy Spring Bancorp will post $2.51 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This article was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://sportsperspectives.com/2017/09/11/sandy-spring-bancorp-inc-sasr-downgraded-to-hold-at-valuengine.html.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 16th. Shareholders of record on Wednesday, August 9th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Monday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is currently 44.26%.
A number of institutional investors and hedge funds have recently bought and sold shares of SASR. Teachers Advisors LLC lifted its stake in Sandy Spring Bancorp by 32.5% during the 4th quarter. Teachers Advisors LLC now owns 49,093 shares of the bank’s stock valued at $1,963,000 after acquiring an additional 12,028 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Sandy Spring Bancorp by 5.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,694 shares of the bank’s stock valued at $397,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Sandy Spring Bancorp by 18.5% during the 1st quarter. Russell Investments Group Ltd. now owns 23,100 shares of the bank’s stock valued at $947,000 after purchasing an additional 3,600 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Sandy Spring Bancorp by 15.0% during the 1st quarter. Wells Fargo & Company MN now owns 66,823 shares of the bank’s stock valued at $2,739,000 after purchasing an additional 8,736 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Sandy Spring Bancorp by 9.4% during the 1st quarter. First Trust Advisors LP now owns 44,132 shares of the bank’s stock valued at $1,809,000 after purchasing an additional 3,797 shares during the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Sandy Spring Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.