Wall Street brokerages predict that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will report earnings of $0.75 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings, with estimates ranging from $0.74 to $0.76. Sandy Spring Bancorp posted earnings of $0.63 per share in the same quarter last year, which suggests a positive year over year growth rate of 19%. The firm is expected to report its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full year earnings of $3.05 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.15. For the next fiscal year, analysts expect that the business will report earnings of $3.44 per share, with EPS estimates ranging from $3.25 to $3.58. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The business had revenue of $55.79 million during the quarter, compared to the consensus estimate of $56.21 million. Sandy Spring Bancorp had a net margin of 21.63% and a return on equity of 10.87%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS.
In other Sandy Spring Bancorp news, Director Joe Reeder sold 1,538 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $38.63, for a total transaction of $59,412.94. Following the sale, the director now directly owns 154,473 shares of the company’s stock, valued at approximately $5,967,291.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shaza L. Andersen sold 8,546 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $39.64, for a total transaction of $338,763.44. Following the sale, the director now directly owns 77,344 shares in the company, valued at $3,065,916.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,256 shares of company stock worth $3,660,166. 3.31% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. FNY Partners Fund LP acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth about $132,000. KBC Group NV acquired a new stake in shares of Sandy Spring Bancorp during the 3rd quarter worth about $139,000. Magnetar Financial LLC acquired a new stake in shares of Sandy Spring Bancorp during the 3rd quarter worth about $203,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Sandy Spring Bancorp during the 4th quarter worth about $214,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Sandy Spring Bancorp during the 3rd quarter worth about $261,000. 73.40% of the stock is currently owned by institutional investors.
Shares of SASR traded down $0.71 during trading hours on Thursday, reaching $38.64. The company had a trading volume of 210,348 shares, compared to its average volume of 187,687. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1,377.28, a PE ratio of 15.21, a P/E/G ratio of 1.00 and a beta of 0.86. Sandy Spring Bancorp has a 12-month low of $36.41 and a 12-month high of $45.64.
ILLEGAL ACTIVITY NOTICE: This report was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/3341257/sandy-spring-bancorp-inc-sasr-expected-to-announce-earnings-of-0-75-per-share.html.
About Sandy Spring Bancorp
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.