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.

WARNING: “Analysts Anticipate Sandy Spring Bancorp, Inc. (SASR) Will Announce Quarterly Sales of $62.30 Million” was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://theolympiareport.com/2017/11/08/analysts-anticipate-sandy-spring-bancorp-inc-sasr-will-announce-quarterly-sales-of-62-30-million.html.

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.

Get a free copy of the Zacks research report on Sandy Spring Bancorp (SASR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sandy Spring Bancorp (NASDAQ:SASR)

Receive News & Ratings for Sandy Spring Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.