Sandy Spring Bancorp (NASDAQ:SASR – Get a rating) had its price target reduced by analysts at DA Davidson to $53.00 in a research note released on Friday, Target Stock Advisor reports. DA Davidson’s target price would suggest a potential upside of 34.21% from the company’s previous close.
Other equity research analysts have also recently released reports on the stock. StockNews.com began covering Sandy Spring Bancorp shares in a research report on Thursday, March 31. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods cut shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $53.00 to $50.00 in a Friday, April 22 research report.
Sandy Spring Bancorp is trading down 0.4%
Shares of SASR traded down $0.14 during the midday session on Friday, hitting $39.49. The company had a trading volume of 135,582 shares, compared to an average volume of 142,460. The company’s 50-day simple moving average is $39.87 and its 200-day simple moving average is 43.49 $. The company has a quick ratio of 0.96, a current ratio of 0.96 and a leverage ratio of 0.25. Sandy Spring Bancorp has a 1-year low of $36.84 and a 1-year high of $52.04. The stock has a market capitalization of $1.79 billion, a PE ratio of 9.10 and a beta of 1.02.
Sandy Spring Bancorp (NASDAQ:SASR – Get a rating) last reported results on Thursday, July 21. The bank reported earnings per share (EPS) of $0.93 for the quarter, missing the consensus estimate of $0.95 per ($0.02). Sandy Spring Bancorp had a return on equity of 12.96% and a net margin of 37.99%. In the same quarter last year, the company earned earnings per share of $1.16. Sell-side analysts expect Sandy Spring Bancorp to post earnings per share of 3.93 for the current year.
Institutional entries and exits
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Quadrant Capital Group LLC increased its stake in shares of Sandy Spring Bancorp by 523.1% during the fourth quarter. Quadrant Capital Group LLC now owns 567 shares of the bank valued at $27,000 after purchasing an additional 476 shares during the period. Allworth Financial LP increased its stake in shares of Sandy Spring Bancorp by 5,790.9% during the first quarter. Allworth Financial LP now owns 648 shares of the bank valued at $29,000 after purchasing an additional 637 shares during the period. Meeder Asset Management Inc. purchased a new equity stake in Sandy Spring Bancorp during the first quarter valued at approximately $71,000. Widmann Financial Services Inc. purchased a new stake in shares of Sandy Spring Bancorp during the fourth quarter valued at approximately $86,000. Finally, Signaturefd LLC increased its stake in shares of Sandy Spring Bancorp by 21.7% during the fourth quarter. Signaturefd LLC now owns 2,138 shares of the bank valued at $103,000 after purchasing 381 additional shares during the period. 66.43% of the shares are held by institutional investors and hedge funds.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as a bank holding company for Sandy Spring Bank which provides commercial and retail banking, mortgage, private banking and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.
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