Sandy Spring Bancorp (NASDAQ:SASR) Issues Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) announced its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. The business had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. Sandy Spring Bancorp had a return on equity of 8.66% and a net margin of 17.43%. During the same quarter in the previous year, the business earned $1.16 earnings per share.

Sandy Spring Bancorp Stock Performance

NASDAQ:SASR traded down $0.56 during mid-day trading on Wednesday, hitting $21.35. 12,323 shares of the company traded hands, compared to its average volume of 296,839. The stock’s fifty day moving average price is $21.64 and its 200-day moving average price is $22.94. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $27.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The firm has a market cap of $960.75 million, a price-to-earnings ratio of 7.88 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.37%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 49.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on SASR. Janney Montgomery Scott began coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They set a “neutral” rating and a $25.00 price objective for the company. Stephens decreased their price target on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.