Zacks: Analysts Anticipate Sandy Spring Bancorp Inc. (SASR) to Announce $0.75 Earnings Per Share

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Brokerages expect Sandy Spring Bancorp Inc. (NASDAQ:SASR) to announce earnings of $0.75 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sandy Spring Bancorp’s earnings. Sandy Spring Bancorp reported earnings per share of $0.80 in the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The business is expected to report its next quarterly earnings results on Thursday, April 18th.

On average, analysts expect that Sandy Spring Bancorp will report full year earnings of $3.14 per share for the current financial year, with EPS estimates ranging from $3.09 to $3.16. For the next fiscal year, analysts expect that the business will post earnings of $3.33 per share, with EPS estimates ranging from $3.20 to $3.52. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, January 17th. The bank reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). The company had revenue of $80.18 million during the quarter, compared to analyst estimates of $81.94 million. Sandy Spring Bancorp had a return on equity of 10.10% and a net margin of 26.19%. During the same quarter last year, the business earned $0.34 earnings per share.

SASR has been the subject of a number of recent analyst reports. Gabelli reiterated a “buy” rating on shares of Sandy Spring Bancorp in a research note on Friday, January 18th. BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Sandler O’Neill cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Friday, January 18th. Finally, Keefe, Bruyette & Woods cut shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $44.00 to $35.00 in a research note on Friday, January 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.00.

In other Sandy Spring Bancorp news, EVP Ronda M. Mcdowell sold 744 shares of Sandy Spring Bancorp stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the completion of the sale, the executive vice president now directly owns 6,034 shares in the company, valued at approximately $211,310.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark E. Friis acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The shares were acquired at an average price of $31.86 per share, with a total value of $31,860.00. Following the completion of the purchase, the director now owns 11,235 shares in the company, valued at approximately $357,947.10. The disclosure for this purchase can be found here. Insiders own 3.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SASR. Quantamental Technologies LLC acquired a new stake in Sandy Spring Bancorp during the 4th quarter valued at approximately $47,000. Advisory Services Network LLC lifted its stake in Sandy Spring Bancorp by 87.7% during the 4th quarter. Advisory Services Network LLC now owns 1,520 shares of the bank’s stock valued at $48,000 after acquiring an additional 710 shares during the period. Panagora Asset Management Inc. acquired a new stake in Sandy Spring Bancorp during the 3rd quarter valued at approximately $170,000. First Republic Investment Management Inc. acquired a new stake in Sandy Spring Bancorp during the 3rd quarter valued at approximately $215,000. Finally, Citigroup Inc. lifted its stake in Sandy Spring Bancorp by 11.0% during the 4th quarter. Citigroup Inc. now owns 6,917 shares of the bank’s stock valued at $217,000 after acquiring an additional 685 shares during the period. Institutional investors and hedge funds own 69.04% of the company’s stock.

SASR stock traded down $0.84 during trading on Thursday, reaching $33.09. The company had a trading volume of 181,082 shares, compared to its average volume of 119,579. The stock has a market capitalization of $1.24 billion, a PE ratio of 12.03 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. Sandy Spring Bancorp has a twelve month low of $29.87 and a twelve month high of $43.87.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Wednesday, February 13th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.38%. The ex-dividend date was Tuesday, February 12th. Sandy Spring Bancorp’s payout ratio is 39.16%.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

Further Reading: Earnings Per Share

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