BidaskClub cut shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a strong sell rating in a research report report published on Tuesday morning.

A number of other equities research analysts have also recently commented on SASR. ValuEngine cut Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Sandler O’Neill upgraded Sandy Spring Bancorp from a hold rating to a buy rating in a research report on Tuesday, June 26th. Finally, Zacks Investment Research cut Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $46.20.

NASDAQ:SASR opened at $38.91 on Tuesday. Sandy Spring Bancorp has a 52 week low of $36.41 and a 52 week high of $43.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a market cap of $1.39 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.75.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, July 19th. The bank reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The business had revenue of $79.86 million for the quarter, compared to analyst estimates of $81.12 million. During the same quarter last year, the business earned $0.61 earnings per share. Sandy Spring Bancorp’s revenue was up 41.3% on a year-over-year basis. analysts expect that Sandy Spring Bancorp will post 3.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is presently 44.09%.

In related news, Director Shaza L. Andersen sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $43.37, for a total value of $433,700.00. Following the transaction, the director now directly owns 53,590 shares of the company’s stock, valued at approximately $2,324,198.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark C. Michael sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $41.63, for a total transaction of $83,260.00. Following the completion of the transaction, the director now directly owns 74,590 shares in the company, valued at $3,105,181.70. The disclosure for this sale can be found here. Insiders sold a total of 73,498 shares of company stock worth $3,146,688 over the last ninety days. 3.31% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Sandy Spring Bancorp by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock valued at $9,857,000 after buying an additional 2,495 shares in the last quarter. Millennium Management LLC lifted its stake in Sandy Spring Bancorp by 193.4% in the 2nd quarter. Millennium Management LLC now owns 540,781 shares of the bank’s stock valued at $22,177,000 after buying an additional 356,477 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in Sandy Spring Bancorp by 10.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,080 shares of the bank’s stock valued at $659,000 after buying an additional 1,493 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Sandy Spring Bancorp by 21.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,574 shares of the bank’s stock valued at $475,000 after buying an additional 2,040 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Sandy Spring Bancorp in the 2nd quarter worth approximately $264,000. 68.74% of the stock is currently owned by hedge funds and other institutional investors.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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Analyst Recommendations for Sandy Spring Bancorp (NASDAQ:SASR)

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