Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Given Consensus Recommendation of “Hold” by Brokerages

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has received a consensus rating of “Hold” from the four analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $24.00.

A number of equities research analysts have commented on SASR shares. Stephens decreased their price target on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a report on Friday, March 1st. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 18th.

Sandy Spring Bancorp Price Performance

Shares of NASDAQ:SASR opened at $21.91 on Friday. The company has a market capitalization of $985.95 million, a P/E ratio of 8.03 and a beta of 0.94. Sandy Spring Bancorp has a 1-year low of $19.27 and a 1-year high of $27.90. The firm’s 50 day simple moving average is $21.64 and its two-hundred day simple moving average is $22.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Tuesday, January 23rd. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Sandy Spring Bancorp had a net margin of 17.43% and a return on equity of 8.66%. The company had revenue of $182.18 million for the quarter, compared to analysts’ expectations of $101.53 million. During the same quarter in the previous year, the company earned $0.79 EPS. Research analysts expect that Sandy Spring Bancorp will post 2.07 EPS for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is currently 49.82%.

Hedge Funds Weigh In On Sandy Spring Bancorp

Several large investors have recently modified their holdings of SASR. North Reef Capital Management LP bought a new position in shares of Sandy Spring Bancorp during the 3rd quarter valued at approximately $9,319,000. AQR Capital Management LLC increased its position in shares of Sandy Spring Bancorp by 408.6% during the 3rd quarter. AQR Capital Management LLC now owns 405,821 shares of the bank’s stock valued at $8,697,000 after purchasing an additional 326,036 shares during the last quarter. Norges Bank bought a new position in shares of Sandy Spring Bancorp during the 4th quarter valued at approximately $8,423,000. Wellington Management Group LLP increased its position in shares of Sandy Spring Bancorp by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 269,547 shares of the bank’s stock valued at $5,776,000 after purchasing an additional 92,175 shares during the last quarter. Finally, Foundry Partners LLC increased its position in shares of Sandy Spring Bancorp by 62.9% during the 3rd quarter. Foundry Partners LLC now owns 226,813 shares of the bank’s stock valued at $4,861,000 after purchasing an additional 87,576 shares during 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.