Sandy Spring Bancorp (NASDAQ:SASR) PT Raised to $33.00 at DA Davidson

Sandy Spring Bancorp (NASDAQ:SASR) had its price objective lifted by DA Davidson from $23.00 to $33.00 in a research report sent to investors on Thursday morning, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for Sandy Spring Bancorp’s Q3 2024 earnings at $0.48 EPS and FY2025 earnings at $2.75 EPS.

A number of other research firms also recently commented on SASR. Keefe, Bruyette & Woods raised their target price on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a market perform rating in a research report on Thursday. Stephens reissued 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. Finally, StockNews.com cut Sandy Spring Bancorp from a hold rating to a sell rating in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, Sandy Spring Bancorp currently has an average rating of Hold and an average price target of $27.00.

Sandy Spring Bancorp Stock Up 2.2 %

Shares of NASDAQ:SASR opened at $30.92 on Thursday. The business’s 50 day moving average is $24.53 and its 200 day moving average is $23.31. The stock has a market cap of $1.39 billion, a P/E ratio of 15.16 and a beta of 0.97. Sandy Spring Bancorp has a 52-week low of $19.27 and a 52-week high of $31.71. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $184.70 million for the quarter, compared to the consensus estimate of $99.60 million. Sandy Spring Bancorp had a return on equity of 6.44% and a net margin of 12.31%. During the same quarter in the prior year, the company earned $0.60 EPS. Sell-side analysts predict that Sandy Spring Bancorp will post 1.93 EPS for the current year.

Hedge Funds Weigh In On Sandy Spring Bancorp

A number of large investors have recently made changes to their positions in SASR. Wellington Management Group LLP grew its stake in Sandy Spring Bancorp by 16.3% during the 4th quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock worth $8,541,000 after buying an additional 43,987 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sandy Spring Bancorp by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock worth $61,033,000 after acquiring an additional 52,454 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sandy Spring Bancorp by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock worth $15,816,000 after acquiring an additional 40,374 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Sandy Spring Bancorp by 5.7% during the first quarter. ProShare Advisors LLC now owns 349,036 shares of the bank’s stock valued at $8,091,000 after acquiring an additional 18,887 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Sandy Spring Bancorp in the 4th quarter valued at approximately $980,000. 66.90% of the stock is owned by institutional investors and hedge funds.

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.