Sandy Spring Bancorp Inc. (SASR) Expected to Post Quarterly Sales of $80.21 Million

Brokerages predict that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will announce sales of $80.21 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sandy Spring Bancorp’s earnings, with estimates ranging from $78.01 million to $82.40 million. Sandy Spring Bancorp posted sales of $52.89 million during the same quarter last year, which suggests a positive year-over-year growth rate of 51.7%. The firm is expected to report its next quarterly earnings results on Thursday, April 19th.

According to Zacks, analysts expect that Sandy Spring Bancorp will report full-year sales of $80.21 million for the current financial year, with estimates ranging from $326.10 million to $339.41 million. For the next year, analysts anticipate that the business will post sales of $360.24 million per share, with estimates ranging from $352.74 million to $366.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Sandy Spring Bancorp.

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Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $55.79 million for the quarter, compared to analyst estimates of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share.

A number of brokerages have recently commented on SASR. Sandler O’Neill set a $44.00 price target on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Thursday, January 18th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price target on the stock in a report on Thursday, January 4th. Finally, Gabelli began coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.80.

Shares of SASR stock traded up $1.40 during trading hours on Wednesday, hitting $38.63. 234,217 shares of the stock were exchanged, compared to its average volume of 211,936. The firm has a market capitalization of $1,327.03, a price-to-earnings ratio of 16.92, a PEG ratio of 0.96 and a beta of 0.87. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.36. Sandy Spring Bancorp has a 52 week low of $36.41 and a 52 week high of $45.64.

In related news, Director Joseph S. Bracewell sold 50,000 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $39.21, for a total value of $1,960,500.00. Following the transaction, the director now owns 42,173 shares in the company, valued at $1,653,603.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shaza L. Andersen sold 8,546 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $39.64, for a total transaction of $338,763.44. Following the completion of the transaction, the director now owns 77,344 shares in the company, valued at approximately $3,065,916.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,256 shares of company stock worth $3,660,166. 3.31% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Sandy Spring Bancorp by 4.6% in the fourth quarter. BlackRock Inc. now owns 2,156,143 shares of the bank’s stock valued at $84,134,000 after buying an additional 95,615 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Sandy Spring Bancorp by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock valued at $75,534,000 after buying an additional 35,355 shares during the period. Ameriprise Financial Inc. lifted its holdings in Sandy Spring Bancorp by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock valued at $39,137,000 after buying an additional 25,663 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in Sandy Spring Bancorp by 6.1% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock valued at $25,311,000 after buying an additional 37,386 shares during the period. Finally, Systematic Financial Management LP lifted its holdings in Sandy Spring Bancorp by 0.6% in the fourth quarter. Systematic Financial Management LP now owns 485,631 shares of the bank’s stock valued at $18,949,000 after buying an additional 2,914 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

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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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