Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Receives $27.00 Average Price Target from Brokerages

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has received an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $27.00.

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. StockNews.com lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, DA Davidson increased their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th.

Sandy Spring Bancorp Stock Up 3.5 %

NASDAQ:SASR opened at $33.51 on Friday. The company’s 50-day simple moving average is $29.97 and its 200-day simple moving average is $25.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $34.19. The stock has a market capitalization of $1.51 billion, a P/E ratio of 16.43 and a beta of 0.96.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $184.70 million for the quarter, compared to analyst estimates of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities analysts anticipate that Sandy Spring Bancorp will post 1.93 earnings per share for the current fiscal year.

Sandy Spring Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Sandy Spring Bancorp

Large investors have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in Sandy Spring Bancorp during the 4th quarter worth approximately $77,000. EntryPoint Capital LLC purchased a new position in shares of Sandy Spring Bancorp during the first quarter worth $98,000. Hantz Financial Services Inc. acquired a new position in Sandy Spring Bancorp during the second quarter valued at $105,000. Meeder Asset Management Inc. purchased a new stake in Sandy Spring Bancorp in the second quarter valued at $117,000. Finally, SG Americas Securities LLC acquired a new stake in Sandy Spring Bancorp during the 1st quarter worth about $122,000. Hedge funds and other institutional investors own 66.90% of the company’s stock.

About Sandy Spring Bancorp

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.