Sandy Spring Bancorp (SASR) Scheduled to Post Quarterly Earnings on Tuesday

Sandy Spring Bancorp (NASDAQ:SASR) will issue its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.46 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.09. Sandy Spring Bancorp had a net margin of 17.43% and a return on equity of 8.66%. The company had revenue of $182.18 million for the quarter, compared to the consensus estimate of $101.53 million. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, analysts expect Sandy Spring Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sandy Spring Bancorp Trading Up 4.1 %

Shares of SASR stock opened at $20.76 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a fifty day moving average of $21.69 and a 200-day moving average of $22.94. The stock has a market cap of $934.20 million, a price-to-earnings ratio of 7.60 and a beta of 0.94. Sandy Spring Bancorp has a 52-week low of $19.27 and a 52-week high of $27.90.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 6.55%. Sandy Spring Bancorp’s dividend payout ratio is 49.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SASR shares. StockNews.com upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Janney Montgomery Scott began coverage on shares of Sandy Spring Bancorp in a research report on Friday, March 1st. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Stephens reduced their target price on shares of Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.00.

Hedge Funds Weigh In On Sandy Spring Bancorp

A number of hedge funds have recently modified their holdings of SASR. Tower Research Capital LLC TRC increased its holdings in Sandy Spring Bancorp by 290.4% in the first quarter. Tower Research Capital LLC TRC now owns 1,054 shares of the bank’s stock worth $27,000 after purchasing an additional 784 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Sandy Spring Bancorp in the 2nd quarter valued at $30,000. Rockefeller Capital Management L.P. increased its stake in Sandy Spring Bancorp by 4,565.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,073 shares of the bank’s stock valued at $37,000 after buying an additional 1,050 shares during the last quarter. Advisory Services Network LLC bought a new stake in Sandy Spring Bancorp during the fourth quarter worth $79,000. Finally, FMR LLC boosted its holdings in shares of Sandy Spring Bancorp by 57.7% in the 1st quarter. FMR LLC now owns 3,112 shares of the bank’s stock worth $81,000 after buying an additional 1,139 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

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 in the United States. It offers financial products and services, including various loan and deposit products.