Analysts Anticipate Sandy Spring Bancorp, Inc. (SASR) Will Announce Quarterly Sales of $62.30 Million
Wall Street brokerages expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to post sales of $62.30 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Sandy Spring Bancorp’s earnings. The lowest sales estimate is $57.80 million and the highest is $66.79 million. Sandy Spring Bancorp reported sales of $51.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.4%. The firm is expected to report its next quarterly earnings results on Thursday, January 18th.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full-year sales of $62.30 million for the current year, with estimates ranging from $227.60 million to $234.91 million. For the next year, analysts anticipate that the company will post sales of $339.88 million per share, with estimates ranging from $336.37 million to $343.38 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The company had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.71% and a net margin of 24.31%. During the same period in the previous year, the company posted $0.56 earnings per share.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. ValuEngine downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.00.
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Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in Sandy Spring Bancorp by 197,021.4% in the 2nd quarter. Bank of Montreal Can now owns 27,597 shares of the bank’s stock valued at $1,123,000 after acquiring an additional 27,583 shares during the period. WBI Investments Inc. bought a new position in Sandy Spring Bancorp in the 2nd quarter valued at about $1,113,000. Alliancebernstein L.P. raised its holdings in Sandy Spring Bancorp by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 39,491 shares of the bank’s stock valued at $1,619,000 after acquiring an additional 200 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Sandy Spring Bancorp by 42.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock valued at $5,865,000 after acquiring an additional 43,299 shares during the period. Finally, QS Investors LLC raised its holdings in Sandy Spring Bancorp by 27.3% in the 2nd quarter. QS Investors LLC now owns 6,345 shares of the bank’s stock valued at $258,000 after acquiring an additional 1,362 shares during the period. 67.99% of the stock is currently owned by hedge funds and other institutional investors.
Sandy Spring Bancorp (SASR) traded down $0.49 during trading on Tuesday, hitting $39.35. 137,075 shares of the stock were exchanged, compared to its average volume of 83,703. Sandy Spring Bancorp has a one year low of $31.08 and a one year high of $45.64. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $944.15, a P/E ratio of 16.73 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.64%. Sandy Spring Bancorp’s payout ratio is 43.15%.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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