BlackRock Fund Advisors has recently announced that it has increased stake in Sandy Spring Bancorp Inc. (NASDAQ:SASR) by 0.98%. After grabbing 3.26 million shares, the institutional investor is now in possession of 31613.0 shares of the Financial Company. The new investment brought the stake of investor firm to 7.31% having worth around $114.92 million. Moreover, The Vanguard Group, Inc. increased its share by 25395.0 to have a control over 2.72 million shares. And Dimensional Fund Advisors LP raised its holdings to 59199.0 shares by acquiring 2.41 million shares or 5.39% of the stake.
Sandy Spring Bancorp Inc. (SASR) concluded trading on 01/19/23 at a closing price of $34.49, with 0.16 million shares of worth about $5.53 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.39% during that period and on Thursday the price saw a gain of about 2.50%. Currently the company’s common shares owned by public are about 44.64M shares, out of which, 43.24M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the SASR stock and their offered price forecasts bring an average price target of $38.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $39.00 and could fall to a lowest price of $38.00. The stock’s current price level is 10.81% above of average price target set by the analysts, while a rise to estimated low would result in gain of 9.24% for the stock. However, touching the estimated high of $39.00 would mean a gain of 11.56% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 101,321 shares in 31 of the transactions. In 27 selling transactions, insiders dumped 43,717 shares.
Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Delaware Small Cap Value Fund are the top 3 mutual funds which are holding stakes in Sandy Spring Bancorp Inc. Vanguard Total Stock Market Index is currently holding 1.31 million shares of worth totaling $46.03 million. The company recently came buying 2866.0 shares which brought its stake up to 2.93% of the company’s outstanding shares. iShares Russell 2000 ETF sold 10492.0 shares, after which its hold over company’s outstanding shares shrunk to 2.25%, leaving 1.0 million shares with the mutual fund that have a worth of about $35.33 million. Delaware Small Cap Value Fund, after buying 0.8 million shares, have now control over 1.80% of the stake in the company. It holds 0.0 shares of worth $28.23 million.
Sandy Spring Bancorp Inc. (NASDAQ: SASR) started trading at $33.60, below -$0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 34.50, or with a gain of 2.50%. Stock saw a price change of -2.38% in past 5 days and over the past one month there was a price change of 2.96%. Year-to-date (YTD), SASR shares are showing a performance of -2.10% which decreased to -32.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.33 but also hit the highest price of $51.02 during that period. The average intraday trading volume for Sandy Spring Bancorp Inc. shares is 202.18K. The stock is currently trading -1.53% below its 20-day simple moving average (SMA20), while that difference is down -0.62% for SMA50 and it goes to -9.87% lower than SMA200.
BlackRock Fund Advisors acquired 3.26 million shares of Sandy Spring Bancorp Inc. having value of about $114.92 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 31613.0 shares in the company valued at close to $1090332.37, or have control over 0.98% stake in the company. Sandy Spring Bancorp Inc. (NASDAQ: SASR) currently have 44.64M outstanding shares and institutions hold larger chunk of about 69.40% of that. Holding of mutual funds in the company is about 4.95% while other institutional holders and individual stake holders have control over 41.17% and 25.13% of the stake respectively.
The stock has a current market capitalization of $1.54B and its 3Y-monthly beta is at 0.95. PE ratio of stock for trailing 12 months is 8.79, while it has posted earnings per share of $3.92 in the same period. Its PEG reads 0.95 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SASR, volatility over the week remained 2.65% while standing at 2.10% over the month.
Analysts are in expectations that Sandy Spring Bancorp Inc. (SASR) stock would likely to be making an EPS of $0.91 in the current quarter, while forecast for next quarter EPS is $0.82 and it is $3.61 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.89 which is $0.93 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.99 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 128.60% while it is estimated to increase by 0.17% in next year. EPS is likely to shrink at an annualized rate of 9.30% for next 5-years, compared to annual growth of 20.00% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Sandy Spring Bancorp Inc. (SASR)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 3 Wall Street analysts, 1 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on December 05, 2022 offering a Neutral rating for the stock and assigned a target price of $39 to it. Coverage by Keefe Bruyette stated Sandy Spring Bancorp Inc. (SASR) stock as a Mkt perform in their note to investors on April 22, 2022, suggesting a price target of $50 for the stock. On March 22, 2022, DA Davidson Initiated their recommendations, while on January 25, 2021, Piper Sandler Upgrade their ratings for the stock with a price target of $41. Stock get a Hold rating from Gabelli & Co on December 09, 2020.
