Sandy Spring Bancorp (NASDAQ:SASR) PT Raised to $30.00 at Keefe, Bruyette & Woods

Sandy Spring Bancorp (NASDAQ:SASR) had its price target hoisted by Keefe, Bruyette & Woods from $25.00 to $30.00 in a research note published on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Sandy Spring Bancorp from a hold rating to a sell rating in a research note on Monday, July 8th. Stephens restated an equal weight rating and issued a $25.00 price target on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Sandy Spring Bancorp currently has an average rating of Hold and a consensus target price of $27.00.

Sandy Spring Bancorp Price Performance

SASR opened at $31.35 on Thursday. Sandy Spring Bancorp has a 52-week low of $19.27 and a 52-week high of $31.83. The company’s 50-day simple moving average is $24.68 and its two-hundred day simple moving average is $23.30. The stock has a market capitalization of $1.41 billion, a P/E ratio of 15.37 and a beta of 0.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.02 and a current ratio of 1.03.

Sandy Spring Bancorp (NASDAQ:SASR) last released 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. Sandy Spring Bancorp had a return on equity of 6.44% and a net margin of 12.31%. The business had revenue of $184.70 million during the quarter, compared to analyst estimates of $99.60 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, analysts predict that Sandy Spring Bancorp will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Sandy Spring Bancorp

Several large investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Sandy Spring Bancorp by 3.4% during the fourth quarter. Arizona State Retirement System now owns 12,542 shares of the bank’s stock valued at $342,000 after buying an additional 414 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 purchasing an additional 723 shares in the last quarter. Truist Financial Corp increased its position in Sandy Spring Bancorp by 2.7% in the fourth quarter. Truist Financial Corp now owns 38,556 shares of the bank’s stock worth $1,050,000 after purchasing an additional 1,026 shares during the last quarter. Inspire Investing LLC raised its stake in Sandy Spring Bancorp by 8.2% during the first quarter. Inspire Investing LLC now owns 17,344 shares of the bank’s stock valued at $402,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Sandy Spring Bancorp by 7.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,104 shares of the bank’s stock valued at $548,000 after purchasing an additional 1,327 shares during the last quarter. 66.90% of the stock is 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 the United States. It offers financial products and services, including various loan and deposit products.