Sandy Spring Bancorp (NASDAQ:SASR) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR) issued 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 firm had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.69%. During the same quarter in the previous year, the company earned $1.16 earnings per share.

Sandy Spring Bancorp Trading Down 1.9 %

SASR stock opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06. The company’s 50-day simple moving average is $21.64 and its 200 day simple moving average is $22.94. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $27.90. The company has a market capitalization of $967.50 million, a PE ratio of 10.54 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 6.33%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SASR shares. Janney Montgomery Scott initiated coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target for the company. Stephens reaffirmed an “equal weight” rating and set a $25.00 price target on shares of Sandy Spring Bancorp in a research report on Wednesday. Finally, StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Sandy Spring Bancorp currently has a consensus rating of “Hold” and an average price target of $23.50.

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.