Sandy Spring Bancorp (SASR) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Sandy Spring Bancorp (NASDAQ:SASR) from a sell rating to a hold rating in a research note issued to investors on Monday morning.
SASR has been the subject of several other research reports. Boenning Scattergood reissued a hold rating on shares of Sandy Spring Bancorp in a report on Friday, October 19th. Robert W. Baird raised shares of Sandy Spring Bancorp from a neutral rating to an outperform rating and set a $44.00 price target for the company in a report on Friday, October 19th. Finally, Zacks Investment Research raised shares of Sandy Spring Bancorp from a sell rating to a hold rating in a report on Tuesday, January 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Sandy Spring Bancorp presently has an average rating of Buy and a consensus price target of $44.33.
Shares of Sandy Spring Bancorp stock traded down $0.09 on Monday, hitting $33.16. 1,299 shares of the company’s stock traded hands, compared to its average volume of 105,047. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.91 and a beta of 0.81. Sandy Spring Bancorp has a one year low of $29.87 and a one year high of $43.87. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.06.
Several hedge funds have recently made changes to their positions in SASR. Panagora Asset Management Inc. acquired a new position in Sandy Spring Bancorp in the 3rd quarter worth $170,000. First Republic Investment Management Inc. acquired a new position in Sandy Spring Bancorp in the 3rd quarter worth $215,000. Teton Advisors Inc. acquired a new position in Sandy Spring Bancorp in the 3rd quarter worth $256,000. Gamco Investors INC. ET AL acquired a new position in Sandy Spring Bancorp in the 3rd quarter worth $257,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Sandy Spring Bancorp in the 2nd quarter worth $264,000. 69.09% of the stock is owned by institutional investors.
Sandy Spring Bancorp Company Profile
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.
Recommended Story: How is the LIBOR rate calculated?
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.