Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Free Report) – Stock analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of Sandy Spring Bancorp in a research note issued on Thursday, January 25th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $2.95 per share for the year, up from their previous estimate of $2.15. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $2.39 per share.
SASR has been the subject of a number of other reports. StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Piper Sandler reduced their price target on Sandy Spring Bancorp from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, October 30th. Finally, Stephens cut their target price on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Sandy Spring Bancorp has an average rating of “Hold” and an average price target of $25.25.
Sandy Spring Bancorp Stock Performance
Shares of NASDAQ SASR opened at $26.19 on Monday. The business has a fifty day simple moving average of $25.29 and a 200 day simple moving average of $23.26. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.59 and a beta of 0.96. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $35.30.
Sandy Spring Bancorp (NASDAQ:SASR – Get Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $182.18 million for the quarter, compared to the consensus estimate of $101.53 million. Sandy Spring Bancorp had a return on equity of 8.73% and a net margin of 17.43%. During the same quarter in the prior year, the company posted $0.79 earnings per share.
Institutional Trading of Sandy Spring Bancorp
Several hedge funds have recently made changes to their positions in SASR. Signaturefd LLC lifted its stake in shares of Sandy Spring Bancorp by 72.6% in the 2nd quarter. Signaturefd LLC now owns 11,101 shares of the bank’s stock valued at $252,000 after acquiring an additional 4,671 shares during the last quarter. Teton Advisors Inc. raised its holdings in Sandy Spring Bancorp by 1.5% during the third quarter. Teton Advisors Inc. now owns 34,000 shares of the bank’s stock valued at $729,000 after acquiring an additional 500 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in Sandy Spring Bancorp in the second quarter worth about $917,000. Trexquant Investment LP purchased a new position in shares of Sandy Spring Bancorp during the second quarter valued at approximately $773,000. Finally, Wealthspire Advisors LLC raised its stake in shares of Sandy Spring Bancorp by 3.7% during the second quarter. Wealthspire Advisors LLC now owns 26,629 shares of the bank’s stock valued at $604,000 after acquiring an additional 938 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors.
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 Central Maryland, Northern Virginia, and Washington, DC It operates in two segments, Community Banking and Investment Management.
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