Analysts Offer Predictions for Sandy Spring Bancorp, Inc.’s FY2024 Earnings (NASDAQ:SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Research analysts at DA Davidson issued their FY2024 earnings per share estimates for shares of Sandy Spring Bancorp in a research note issued on Tuesday, April 30th. DA Davidson analyst M. Navas forecasts that the bank will earn $1.90 per share for the year. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.97 per share.

SASR has been the topic of a number of other research reports. Stephens restated an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday, April 24th. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Janney Montgomery Scott initiated coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They set a “neutral” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Sandy Spring Bancorp Trading Up 2.4 %

Shares of Sandy Spring Bancorp stock opened at $22.24 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $22.94. Sandy Spring Bancorp has a 1 year low of $19.27 and a 1 year high of $27.90. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.90 and a beta of 0.94.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The business had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. During the same quarter last year, the firm posted $1.16 EPS.

Institutional Trading of Sandy Spring Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in Sandy Spring Bancorp by 30.0% during the 3rd quarter. CWM LLC now owns 2,217 shares of the bank’s stock valued at $48,000 after purchasing an additional 512 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Sandy Spring Bancorp during the fourth quarter worth $77,000. Quantbot Technologies LP bought a new stake in Sandy Spring Bancorp during the third quarter worth $94,000. SG Americas Securities LLC bought a new stake in Sandy Spring Bancorp during the third quarter worth $115,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Sandy Spring Bancorp by 40.6% in the fourth quarter. Quadrant Capital Group LLC now owns 5,521 shares of the bank’s stock valued at $150,000 after buying an additional 1,595 shares during the period. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.36 annualized dividend and a yield of 6.12%. Sandy Spring Bancorp’s payout ratio is currently 66.67%.

Sandy Spring Bancorp Company Profile

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.