Sandy Spring Bancorp (NASDAQ:SASR) Announces 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 business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same quarter last year, the company earned $0.62 EPS.

Sandy Spring Bancorp Price Performance

NASDAQ SASR traded up $0.32 during trading hours on Wednesday, hitting $32.36. The company had a trading volume of 1,005,371 shares, compared to its average volume of 342,320. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $34.19. The firm has a 50 day simple moving average of $31.28 and a 200 day simple moving average of $26.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 16.20 and a beta of 0.95.

Sandy Spring Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders 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 4.20%. Sandy Spring Bancorp’s dividend payout ratio is currently 68.00%.

Analysts Set New Price Targets

SASR has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.