Boenning Scattergood Reaffirms “Hold” Rating for Sandy Spring Bancorp (SASR)

Boenning Scattergood reaffirmed their hold rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research note issued to investors on Thursday morning.

Several other equities analysts have also recently commented on SASR. Zacks Investment Research raised shares of Sandy Spring Bancorp from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Wednesday, September 20th. ValuEngine raised shares of Sandy Spring Bancorp from a hold rating to a buy rating in a research note on Monday, October 2nd. BidaskClub raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research note on Wednesday, January 3rd. Gabelli initiated coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They set a buy rating and a $50.00 price objective for the company. Finally, Sandler O’Neill set a $44.00 price objective on shares of Sandy Spring Bancorp and gave the company a hold rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Sandy Spring Bancorp has an average rating of Hold and a consensus price target of $44.75.

Sandy Spring Bancorp (NASDAQ SASR) opened at $40.25 on Thursday. The company has a market cap of $969.82, a P/E ratio of 18.30, a P/E/G ratio of 0.88 and a beta of 0.99. Sandy Spring Bancorp has a 12 month low of $36.50 and a 12 month high of $45.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $55.79 million during the quarter, compared to analysts’ expectations of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.91%. Sandy Spring Bancorp’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. equities analysts forecast that Sandy Spring Bancorp will post 3.13 EPS for the current year.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in Sandy Spring Bancorp by 2.1% during the second quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock valued at $365,000 after purchasing an additional 182 shares during the last quarter. Victory Capital Management Inc. lifted its position in Sandy Spring Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock valued at $206,000 after purchasing an additional 759 shares during the last quarter. Citigroup Inc. lifted its position in Sandy Spring Bancorp by 12.5% during the second quarter. Citigroup Inc. now owns 7,353 shares of the bank’s stock valued at $298,000 after purchasing an additional 817 shares during the last quarter. Voya Investment Management LLC lifted its position in Sandy Spring Bancorp by 5.8% during the second quarter. Voya Investment Management LLC now owns 14,980 shares of the bank’s stock valued at $609,000 after purchasing an additional 821 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in Sandy Spring Bancorp by 19.5% during the third quarter. Stratos Wealth Partners LTD. now owns 7,967 shares of the bank’s stock valued at $330,000 after purchasing an additional 1,301 shares during the last quarter. 70.37% of the stock is owned by institutional investors.

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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.

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