Sandy Spring Bancorp (SASR) Given “Hold” Rating at Boenning Scattergood
Sandy Spring Bancorp (NASDAQ:SASR)‘s stock had its “hold” rating reiterated by stock analysts at Boenning Scattergood in a research report issued to clients and investors on Thursday.
Several other equities research analysts have also issued reports on the stock. Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a research note on Friday, January 12th. BidaskClub lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Gabelli began 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 target for the company. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research note on Thursday, January 4th. Finally, ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.75.
Shares of Sandy Spring Bancorp (NASDAQ SASR) opened at $40.25 on Thursday. 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 has a one year low of $36.50 and a one year high of $45.64. The stock has a market cap of $965.74, a P/E ratio of 18.30, a PEG ratio of 0.89 and a beta of 0.99.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Sandy Spring Bancorp in the 3rd quarter worth approximately $139,000. BNP Paribas Arbitrage SA boosted its holdings in Sandy Spring Bancorp by 554.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after buying an additional 3,038 shares during the period. Court Place Advisors LLC bought a new position in Sandy Spring Bancorp in the 3rd quarter worth approximately $200,000. Magnetar Financial LLC bought a new position in Sandy Spring Bancorp in the 3rd quarter worth approximately $203,000. Finally, Victory Capital Management Inc. boosted its holdings in Sandy Spring Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock worth $206,000 after buying an additional 759 shares during the period. 70.37% of the stock is owned by institutional investors.
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About Sandy Spring Bancorp
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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