ValuEngine downgraded shares of Sandy Spring Bancorp, Inc. (NASDAQ:SASR) from a buy rating to a hold rating in a research note released on Thursday.

Several other equities research analysts have also recently issued reports on the stock. BidaskClub raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a research report on Saturday, August 26th. Zacks Investment Research raised shares of Sandy Spring Bancorp from a hold rating to a buy rating and set a $45.00 price objective for the company in a research report on Tuesday, July 25th.

Sandy Spring Bancorp (NASDAQ:SASR) opened at 37.23 on Thursday. Sandy Spring Bancorp has a 1-year low of $27.86 and a 1-year high of $45.64. The company has a 50-day moving average of $38.84 and a 200-day moving average of $40.53. The company has a market capitalization of $893.04 million, a P/E ratio of 15.94 and a beta of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. Sandy Spring Bancorp had a net margin of 24.33% and a return on equity of 10.44%. During the same period in the previous year, the company earned $0.44 EPS. Equities analysts expect that Sandy Spring Bancorp will post $2.51 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Wednesday, August 9th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.79%. Sandy Spring Bancorp’s dividend payout ratio is currently 44.26%.

Large investors have recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Sandy Spring Bancorp by 197,021.4% in the 2nd quarter. Bank of Montreal Can now owns 27,597 shares of the bank’s stock valued at $1,123,000 after purchasing an additional 27,583 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Sandy Spring Bancorp by 5.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock valued at $251,000 after purchasing an additional 301 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Sandy Spring Bancorp by 5.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,694 shares of the bank’s stock valued at $397,000 after purchasing an additional 500 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Sandy Spring Bancorp by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 39,491 shares of the bank’s stock valued at $1,619,000 after purchasing an additional 200 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Sandy Spring Bancorp by 18.5% in the 1st quarter. Russell Investments Group Ltd. now owns 23,100 shares of the bank’s stock valued at $947,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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