DA Davidson analyst Manuel Navas raised the firm’s price target on Sandy Spring Bancorp to $27 from $26 and keeps a Neutral rating on the shares. The company’s results missed on pre-provision net revenue on weaker fees and net interest income that is still feeling the effects of hefty net interest margin compression, the analyst tells investors in a research note. The company is reducing its FY24 EPS view by 3c to $2.12 modestly on weaker net interest margin entering year, but raising its FY25 view by 10c to $2.95 as stronger loan growth takes hold, the firm added.
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