Sandy Spring Bancorp, Inc. (SASR) Expected to Post Earnings of $0.61 Per Share
Brokerages expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to announce earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.58. Sandy Spring Bancorp reported earnings of $0.55 per share in the same quarter last year, which would indicate a positive year over year growth rate of 10.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, January 18th.
On average, analysts expect that Sandy Spring Bancorp will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.50. For the next year, analysts anticipate that the business will report earnings of $2.74 per share, with EPS estimates ranging from $2.70 to $2.78. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The business had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. During the same quarter in the prior year, the business earned $0.56 earnings per share.
SASR has been the topic of several analyst reports. ValuEngine cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, October 20th. Finally, BidaskClub cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Sandy Spring Bancorp has an average rating of “Hold” and an average target price of $42.00.
Shares of Sandy Spring Bancorp (NASDAQ SASR) opened at $39.01 on Thursday. Sandy Spring Bancorp has a 1 year low of $36.50 and a 1 year high of $45.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $965.50, a P/E ratio of 16.70 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.67%. The ex-dividend date was Tuesday, November 7th. Sandy Spring Bancorp’s dividend payout ratio is currently 43.15%.
Several hedge funds have recently modified their holdings of the company. Teachers Advisors LLC grew its holdings in shares of Sandy Spring Bancorp by 3.9% in the 1st quarter. Teachers Advisors LLC now owns 51,023 shares of the bank’s stock worth $2,091,000 after acquiring an additional 1,930 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Sandy Spring Bancorp by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 1,082,192 shares of the bank’s stock worth $44,360,000 after acquiring an additional 51,096 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Sandy Spring Bancorp by 13.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 100,929 shares of the bank’s stock worth $4,138,000 after acquiring an additional 12,044 shares during the last quarter. State Street Corp grew its holdings in shares of Sandy Spring Bancorp by 0.5% in the 1st quarter. State Street Corp now owns 448,049 shares of the bank’s stock worth $18,364,000 after acquiring an additional 2,160 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of 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 worth $1,123,000 after acquiring an additional 27,583 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.
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About Sandy Spring Bancorp
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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