Analysts expect that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will report $55.53 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings, with the highest sales estimate coming in at $56.08 million and the lowest estimate coming in at $54.98 million. Sandy Spring Bancorp reported sales of $49.48 million in the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The company is scheduled to announce its next earnings report on Thursday, July 20th.
On average, analysts expect that Sandy Spring Bancorp will report full-year sales of $55.53 million for the current financial year, with estimates ranging from $226.09 million to $237.45 million. For the next year, analysts expect that the firm will post sales of $344.51 million per share, with estimates ranging from $343.60 million to $345.42 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, April 20th. The bank reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.09. The business had revenue of $52.89 million for the quarter, compared to analyst estimates of $53.46 million. Sandy Spring Bancorp had a net margin of 21.77% and a return on equity of 9.11%. During the same period last year, the company posted $0.45 earnings per share.
A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $40.00 price target on shares of Sandy Spring Bancorp in a research note on Friday, April 21st. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, March 23rd. Finally, ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 17th.
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Sandy Spring Bancorp (SASR) opened at 39.86 on Friday. The stock has a market capitalization of $955.60 million, a price-to-earnings ratio of 18.33 and a beta of 0.88. The stock’s 50 day moving average is $41.19 and its 200-day moving average is $40.69. Sandy Spring Bancorp has a 12 month low of $27.06 and a 12 month high of $45.64.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 17th. Stockholders of record on Wednesday, May 10th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, May 8th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 52.00%.
Several large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Sandy Spring Bancorp during the first quarter worth about $177,000. 361 Capital LLC bought a new stake in Sandy Spring Bancorp during the first quarter worth about $205,000. Tudor Investment Corp Et Al bought a new stake in Sandy Spring Bancorp during the fourth quarter worth about $213,000. Stratos Wealth Partners LTD. increased its stake in Sandy Spring Bancorp by 5.2% in the first quarter. Stratos Wealth Partners LTD. now owns 6,115 shares of the bank’s stock worth $251,000 after buying an additional 301 shares during the period. Finally, Karp Capital Management Corp bought a new stake in Sandy Spring Bancorp during the first quarter worth about $267,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.
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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