Zacks: Brokerages Anticipate Sandy Spring Bancorp, Inc. (NASDAQ:SASR) Will Announce Quarterly Sales of $125.76 Million

Equities research analysts forecast that Sandy Spring Bancorp, Inc. (NASDAQ:SASRGet Rating) will announce sales of $125.76 million for the current quarter, according to Zacks. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings, with the highest sales estimate coming in at $126.21 million and the lowest estimate coming in at $125.30 million. Sandy Spring Bancorp posted sales of $134.31 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Sandy Spring Bancorp will report full-year sales of $505.73 million for the current fiscal year, with estimates ranging from $504.26 million to $507.20 million. For the next fiscal year, analysts forecast that the company will post sales of $531.24 million, with estimates ranging from $526.78 million to $535.70 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASRGet Rating) last released its earnings results on Thursday, April 21st. The bank reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The company had revenue of $122.05 million for the quarter, compared to analyst estimates of $126.05 million. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 13.08%. During the same period in the prior year, the firm earned $1.20 EPS.

A number of research firms have recently commented on SASR. Keefe, Bruyette & Woods downgraded shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $53.00 to $50.00 in a research note on Friday, April 22nd. DA Davidson began coverage on shares of Sandy Spring Bancorp in a research note on Tuesday, March 22nd. They set a “buy” rating and a $61.00 price objective for the company. StockNews.com began coverage on shares of Sandy Spring Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th.

NASDAQ SASR opened at $39.33 on Thursday. Sandy Spring Bancorp has a 12 month low of $37.61 and a 12 month high of $52.04. The company has a 50-day moving average of $42.35 and a 200-day moving average of $46.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.78 billion, a P/E ratio of 9.06 and a beta of 1.03.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Investors of record on Wednesday, May 11th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Tuesday, May 10th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 31.34%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL increased its position in Sandy Spring Bancorp by 0.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 129,451 shares of the bank’s stock worth $5,815,000 after purchasing an additional 629 shares in the last quarter. Jane Street Group LLC increased its position in Sandy Spring Bancorp by 28.6% during the 1st quarter. Jane Street Group LLC now owns 8,110 shares of the bank’s stock worth $364,000 after purchasing an additional 1,802 shares in the last quarter. Royal Bank of Canada increased its position in Sandy Spring Bancorp by 39.6% during the 1st quarter. Royal Bank of Canada now owns 39,475 shares of the bank’s stock worth $1,772,000 after purchasing an additional 11,202 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Sandy Spring Bancorp by 47.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 91,166 shares of the bank’s stock worth $4,095,000 after purchasing an additional 29,316 shares in the last quarter. Finally, State Street Corp increased its position in Sandy Spring Bancorp by 1.0% during the 1st quarter. State Street Corp now owns 1,518,925 shares of the bank’s stock worth $68,230,000 after purchasing an additional 15,651 shares in the last quarter. 66.43% of the stock is owned by hedge funds and other institutional investors.

About Sandy Spring Bancorp (Get Rating)

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.

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

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