Sandy Spring Bancorp (NASDAQ:SASR) Announces Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings results on Tuesday. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08, Briefing.com reports. The business had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. During the same quarter in the prior year, the firm posted $0.60 earnings per share.

Sandy Spring Bancorp Stock Down 1.1 %

NASDAQ SASR traded down $0.35 during trading hours on Wednesday, hitting $30.80. The company’s stock had a trading volume of 165,001 shares, compared to its average volume of 299,301. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $31.71. The company has a market capitalization of $1.39 billion, a PE ratio of 15.18 and a beta of 0.97. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $24.25 and its two-hundred day simple moving average is $23.21.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were given a $0.34 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $1.36 annualized dividend and a yield of 4.42%. Sandy Spring Bancorp’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

SASR has been the topic of a number of research analyst reports. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Stephens reissued an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Sandy Spring Bancorp has an average rating of “Hold” and a consensus target price of $23.50.

About Sandy Spring Bancorp

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.