Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Receives $27.00 Consensus Target Price from Brokerages

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) has earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.00.

A number of research analysts recently commented on SASR shares. Keefe, Bruyette & Woods increased their price target on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. DA Davidson raised their price target on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th.

Sandy Spring Bancorp Price Performance

Sandy Spring Bancorp stock opened at $31.19 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.41 billion, a P/E ratio of 15.29 and a beta of 0.95. The firm has a fifty day moving average of $30.56 and a 200-day moving average of $26.06. Sandy Spring Bancorp has a 52-week low of $19.27 and a 52-week high of $34.19.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08. The firm had revenue of $184.70 million during the quarter, compared to the consensus estimate of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. During the same period in the prior year, the firm earned $0.60 EPS. As a group, analysts predict that Sandy Spring Bancorp will post 1.93 EPS for the current year.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

Hedge Funds Weigh In On Sandy Spring Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Carmichael Hill & Associates Inc. boosted its holdings in shares of Sandy Spring Bancorp by 3.6% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 11,785 shares of the bank’s stock valued at $287,000 after buying an additional 412 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Sandy Spring Bancorp by 2.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,456 shares of the bank’s stock valued at $620,000 after acquiring an additional 723 shares during the period. Truist Financial Corp boosted its stake in Sandy Spring Bancorp by 2.6% in the second quarter. Truist Financial Corp now owns 43,713 shares of the bank’s stock valued at $1,065,000 after acquiring an additional 1,104 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Sandy Spring Bancorp by 9.8% during the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock valued at $321,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Sandy Spring Bancorp by 8.2% during the 1st quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock worth $402,000 after purchasing an additional 1,316 shares during the period. Institutional investors and hedge funds own 66.90% of the company’s stock.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.