Sandy Spring Bancorp (SASR) Earns Hold Rating from Boenning Scattergood

Boenning Scattergood reiterated their hold rating on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report report published on Tuesday, January 2nd. Boenning Scattergood also issued estimates for Sandy Spring Bancorp’s Q4 2017 earnings at $0.42 EPS and FY2017 earnings at $2.29 EPS.

A number of other equities analysts also recently issued reports on SASR. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a hold rating to a sell rating in a report on Wednesday, October 25th. ValuEngine upgraded shares of Sandy Spring Bancorp from a hold rating to a buy rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Sandy Spring Bancorp presently has an average rating of Buy and a consensus price target of $45.00.

Shares of Sandy Spring Bancorp (NASDAQ SASR) traded up $0.19 on Tuesday, reaching $39.71. 195,800 shares of the company traded hands, compared to its average volume of 249,971. Sandy Spring Bancorp has a 1 year low of $36.50 and a 1 year high of $45.64. The stock has a market cap of $936.23, a P/E ratio of 16.48 and a beta of 0.99. 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 announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The firm had revenue of $55.44 million during the quarter, compared to analysts’ expectations of $58.34 million. During the same period in the prior year, the company posted $0.56 earnings per share. research analysts predict that Sandy Spring Bancorp will post 2.4 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Dalton Greiner Hartman Maher & Co. raised its stake in shares of Sandy Spring Bancorp by 6.1% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock valued at $25,311,000 after purchasing an additional 37,386 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter worth $1,154,000. Magnetar Financial LLC bought a new stake in shares of Sandy Spring Bancorp in the third quarter worth $203,000. OxFORD Asset Management LLP increased its stake in Sandy Spring Bancorp by 112.5% during the third quarter. OxFORD Asset Management LLP now owns 45,876 shares of the bank’s stock valued at $1,899,000 after purchasing an additional 24,292 shares during the last quarter. Finally, KBC Group NV bought a new stake in Sandy Spring Bancorp during the third quarter valued at $139,000. 70.37% of the stock is currently owned by hedge funds and other 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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