Sandy Spring Bancorp (NASDAQ:SASR) Posts Quarterly Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) announced its quarterly earnings data on Monday. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06), Briefing.com reports. The company had revenue of $189.81 million for the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 6.41% and a net margin of 12.31%. During the same quarter in the prior year, the company earned $0.62 EPS.

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ SASR opened at $31.53 on Tuesday. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $34.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 15.89 and a beta of 0.95. The stock’s fifty day moving average price is $31.13 and its two-hundred day moving average price is $26.55.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th were paid a $0.34 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a yield of 4.31%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 68.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SASR. DA Davidson boosted their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

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.