Media coverage about Sandy Spring Bancorp (NASDAQ:SASR) has trended somewhat positive on Thursday, Accern Sentiment reports. The research group identifies positive and negative media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Sandy Spring Bancorp earned a daily sentiment score of 0.22 on Accern’s scale. Accern also gave news stories about the bank an impact score of 45.9271444687268 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern’s scoring:
- Sandy Spring Bancorp (SASR) Cut to Sell at BidaskClub (americanbankingnews.com)
- Sandy Spring Bancorp (SASR) Upgraded to Hold at BidaskClub (americanbankingnews.com)
- Zacks Investment Research Upgrades Sandy Spring Bancorp (SASR) to “Hold” (americanbankingnews.com)
- Sandy Spring Bancorp (SASR) Stock Rating Upgraded by BidaskClub (americanbankingnews.com)
- Sandy Spring Bancorp Inc. (SASR) Receives Average Recommendation of “Hold” from Brokerages (americanbankingnews.com)
A number of analysts have recently issued reports on the company. Gabelli assumed coverage on Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 target price for the company. Zacks Investment Research upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut Sandy Spring Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th. Stephens upgraded Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 target price for the company in a report on Thursday, February 22nd. Finally, Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.80.
Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $55.79 million during the quarter, compared to analysts’ expectations of $56.21 million. Sandy Spring Bancorp had a return on equity of 10.87% and a net margin of 21.63%. Sandy Spring Bancorp’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. sell-side analysts anticipate that Sandy Spring Bancorp will post 3.05 EPS for the current fiscal year.
In other Sandy Spring Bancorp news, Director Joseph S. Bracewell sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $39.21, for a total value of $1,960,500.00. Following the completion of the transaction, the director now owns 42,173 shares in the company, valued at approximately $1,653,603.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ronda M. Mcdowell sold 1,872 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $37.95, for a total value of $71,042.40. Following the completion of the transaction, the executive vice president now directly owns 5,090 shares in the company, valued at $193,165.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,256 shares of company stock valued at $3,660,166. 3.31% of the stock is owned by company insiders.
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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