Sandy Spring Bancorp (NASDAQ:SASR) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Sandy Spring Bancorp (NASDAQ:SASR) from a hold rating to a sell rating in a research note published on Monday morning.

Separately, Stephens reaffirmed an equal weight rating and issued a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $23.50.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $27.00 on Monday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 13.24 and a beta of 0.97. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $27.90. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $23.18 and a 200-day moving average of $23.15.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. During the same quarter last year, the firm posted $1.16 EPS. On average, equities analysts forecast that Sandy Spring Bancorp will post 1.95 earnings per share for the current year.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.36 annualized dividend and a dividend yield of 5.04%. Sandy Spring Bancorp’s payout ratio is 66.67%.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several institutional investors have recently bought and sold shares of SASR. Scarborough Advisors LLC bought a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth $77,000. EntryPoint Capital LLC purchased a new position in Sandy Spring Bancorp during the first quarter worth about $98,000. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp in the 1st quarter worth about $122,000. CWM LLC increased its stake in Sandy Spring Bancorp by 59.4% in the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock valued at $135,000 after buying an additional 2,073 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Sandy Spring Bancorp by 40.6% during the 4th quarter. Quadrant Capital Group LLC now owns 5,521 shares of the bank’s stock worth $150,000 after buying an additional 1,595 shares in the last quarter. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

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.