Sandy Spring Bancorp Inc. (NASDAQ:SASR) shares traded 0.84% higher at $27.74 on Wall Street last session.
In accordance with the data, 3 analysts cover Sandy Spring Bancorp Inc. (NASDAQ:SASR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $38.00 and a low of $35.00, we find $36.00. Given the previous closing price of $27.51, this indicates a potential upside of 30.86 percent. SASR stock price is now -17.38% away from the 50-day moving average and -24.51% away from the 200-day moving average. The market capitalization of the company currently stands at $1.28B.
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It has been rated a hold by 2 analysts and a buy by 1. Brokers who have rated the stock have averaged $36.33 as their price target over the next twelve months.
On April 22, 2022, Keefe Bruyette Downgraded its previous ‘Outperform’ rating to ‘Mkt Perform’ on the stock reducing its target price from $53 to quote $50, while ‘DA Davidson’ rates the stock as ‘Buy’.
In other news, RUPPERT CRAIG A, Director bought 2,500 shares of the company’s stock on May 16. The stock was bought for $96,085 at an average price of $38.43. Upon completion of the transaction, the Director now directly owns 96,331 shares in the company, valued at $2.67 million. Insiders disposed of 30,661 shares of company stock worth roughly $0.85 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SASR stock. A new stake in Sandy Spring Bancorp Inc. shares was purchased by DEPRINCE RACE & ZOLLO INC during the first quarter worth $20,431,000. HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC invested $7,685,000 in shares of SASR during the first quarter. In the first quarter, BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in Sandy Spring Bancorp Inc. valued at approximately $7,110,000. NFJ INVESTMENT GROUP, LLC acquired a new stake in SASR for approximately $3,304,000. DENALI ADVISORS LLC purchased a new stake in SASR valued at around $857,000 in the second quarter. In total, there are 280 active investors with 69.40% ownership of the company’s stock.
Sandy Spring Bancorp Inc. (NASDAQ: SASR) opened at $26.66 on Wednesday. During the past 12 months, Sandy Spring Bancorp Inc. has had a low of $26.05 and a high of $46.36. The fifty day moving average price for SASR is $33.42 and a two-hundred day moving average price translates $36.67 for the stock.
The latest earnings results from Sandy Spring Bancorp Inc. (NASDAQ: SASR) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.79, missing analysts’ expectations of $0.92 by -0.13. This compares to $1.01 EPS in the same period last year. The net profit margin was 33.40% and return on equity was 11.20% for SASR. The company reported revenue of $145.3 million for the quarter, compared to $110.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.01 percent. For the current quarter, analysts expect SASR to generate $101.45M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/15/2023. Investors who held shares on 02/08/2023 were paid a $0.34 dividend. On an annualized basis, this represents a $1.36 dividend and a 4.90% percent yield. There was an ex-dividend date of 02/07/2023 for this dividend. In terms of dividend payout ratio, SASR is presently at 36.70%.
Sandy Spring Bancorp Inc.(SASR) 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. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products. Its loan products include commercial real estate loans, commercial construction loans, and other commercial loans; residential real estate loans; and consumer loans comprising home equity loans and lines, installment loans, and personal lines of credit. The Insurance segment provides general insurance agency services and annuities, such as commercial, personal, and medical liability lines. The Investment Management segment offers investment management and financial planning, including cash flow analysis, investment review, tax and retirement planning, insurance analysis, and estate planning to individuals, families, small businesses, and associations. It also provides personal trust and wealth management services. The company operates a network of approximately 50 locations in Maryland, Northern Virginia, and Washington D.C. Sandy Spring Bancorp, Inc. was founded in 1868 and is headquartered in Olney, Maryland.
