Sandy Spring Bancorp Inc. (SASR) Expected to Announce Earnings of $0.75 Per Share

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.

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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.

A number of equities research analysts recently commented on SASR shares. Sandler O’Neill set a $44.00 price objective on shares of Sandy Spring Bancorp and gave the company a “hold” rating in a research note on Friday, January 12th. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Gabelli started coverage on shares of Sandy Spring Bancorp in a research note on Monday, January 8th. They issued a “buy” rating and a $50.00 price objective on the stock. BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Stephens raised shares of Sandy Spring Bancorp from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus target price of $44.80.

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.

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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.

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