News

Fintel reports that on March 1, 2024, Janney Montgomery Scott initiated coverage of Sandy Spring Bancorp (NasdaqGS:SASR) with a Neutral recommendation.

Analyst Price Forecast Suggests 24.05% Upside

As of February 23, 2024, the average one-year price target for Sandy Spring Bancorp is 27.03. The forecasts range from a low of 25.25 to a high of $28.35. The average price target represents an increase of 24.05% from its latest reported closing price of 21.79.

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The projected annual revenue for Sandy Spring Bancorp is 510MM, an increase of 16.08%. The projected annual non-GAAP EPS is 4.09.

What is the Fund Sentiment?

There are 420 funds or institutions reporting positions in Sandy Spring Bancorp. This is a decrease of 7 owner(s) or 1.64% in the last quarter. Average portfolio weight of all funds dedicated to SASR is 0.08%, an increase of 3.02%. Total shares owned by institutions decreased in the last three months by 1.60% to 36,358K shares. The put/call ratio of SASR is 4.62, indicating a bearish outlook.

What are Other Shareholders Doing?

T. Rowe Price Investment Management holds 2,688K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 2,550K shares, representing an increase of 5.13%. The firm increased its portfolio allocation in SASR by 23.25% over the last quarter.

PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,651K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 1,571K shares, representing an increase of 4.82%. The firm increased its portfolio allocation in SASR by 21.84% over the last quarter.

Invesco holds 1,362K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,433K shares, representing a decrease of 5.20%. The firm decreased its portfolio allocation in SASR by 90.27% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,326K shares representing 2.95% ownership of the company. No change in the last quarter.

Macquarie Group holds 1,316K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 1,351K shares, representing a decrease of 2.66%. The firm decreased its portfolio allocation in SASR by 14.11% over the last quarter.

Sandy Spring Bancorp Background Information
(This description is provided by the company.)

Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 60 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services.

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