Sandy Spring Bancorp (NASDAQ:SASR) Posts Earnings Results, Beats Expectations By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR) posted its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03, Briefing.com reports. The company had revenue of $184.38 million for the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a return on equity of 8.66% and a net margin of 17.43%. During the same quarter in the prior year, the business posted $1.16 EPS.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $21.92 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $21.64 and a 200-day moving average price of $22.94. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $27.90. The firm has a market capitalization of $986.40 million, a PE ratio of 8.03 and a beta of 0.94.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.20%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is currently 49.82%.

Analyst Upgrades and Downgrades

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

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.