Equities analysts expect Sandy Spring Bancorp Inc. (NASDAQ:SASR) to announce $0.79 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Sandy Spring Bancorp’s earnings. The lowest EPS estimate is $0.77 and the highest is $0.80. Sandy Spring Bancorp posted earnings per share of $0.64 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The firm is expected to issue its next earnings results on Thursday, January 17th.
On average, analysts expect that Sandy Spring Bancorp will report full year earnings of $3.16 per share for the current financial year, with EPS estimates ranging from $3.15 to $3.16. For the next year, analysts expect that the firm will report earnings of $3.32 per share, with EPS estimates ranging from $3.16 to $3.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). The firm had revenue of $82.62 million during the quarter, compared to the consensus estimate of $82.74 million. Sandy Spring Bancorp had a return on equity of 11.00% and a net margin of 23.98%. During the same period last year, the business earned $0.62 EPS.
A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, October 19th. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Robert W. Baird raised shares of Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Friday, October 19th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 19th. Finally, ValuEngine lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Sandy Spring Bancorp has an average rating of “Hold” and a consensus price target of $45.83.
Several institutional investors and hedge funds have recently made changes to their positions in SASR. Principal Financial Group Inc. boosted its stake in shares of Sandy Spring Bancorp by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 156,893 shares of the bank’s stock valued at $6,081,000 after purchasing an additional 5,375 shares in the last quarter. UBS Group AG lifted its position in Sandy Spring Bancorp by 16.1% during the 1st quarter. UBS Group AG now owns 13,080 shares of the bank’s stock valued at $507,000 after acquiring an additional 1,817 shares during the period. California State Teachers Retirement System lifted its position in Sandy Spring Bancorp by 584.2% during the 1st quarter. California State Teachers Retirement System now owns 49,206 shares of the bank’s stock valued at $1,907,000 after acquiring an additional 42,014 shares during the period. Guggenheim Capital LLC purchased a new position in Sandy Spring Bancorp during the 1st quarter valued at about $1,004,000. Finally, Legal & General Group Plc lifted its position in Sandy Spring Bancorp by 27.6% during the 1st quarter. Legal & General Group Plc now owns 11,591 shares of the bank’s stock valued at $449,000 after acquiring an additional 2,510 shares during the period. 69.08% of the stock is currently owned by hedge funds and other institutional investors.
Sandy Spring Bancorp stock traded down $0.23 during trading hours on Monday, reaching $36.21. The stock had a trading volume of 50,560 shares, compared to its average volume of 131,813. The firm has a market cap of $1.29 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.04 and a beta of 0.75. Sandy Spring Bancorp has a 52 week low of $33.38 and a 52 week high of $43.87. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.07.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, November 13th. Sandy Spring Bancorp’s payout ratio is 44.09%.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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