Analysts expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get a rating) will announce $126.83 million in sales for the current quarter, according to Zacks. Two analysts released earnings estimates for Sandy Spring Bancorp, with the lowest sales estimate of $126.56 million and the highest estimate of $127.10 million. Sandy Spring Bancorp posted sales of $133.47 million in the same quarter last year, suggesting a negative 5% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.
According to Zacks, analysts expect Sandy Spring Bancorp to report annual sales of $514.55 million for the current fiscal year, with estimates ranging from $510.40 million to $518.70 million. . For the next fiscal year, analysts expect the company to post sales of $542.13 million, with estimates ranging from $532.45 million to $551.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts who follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR – Get a rating) last released its quarterly results on Thursday, January 20. The bank reported earnings per share of $1.05 for the quarter, missing Thomson Reuters’ consensus estimate of $1.10 per ($0.05). Sandy Spring Bancorp had a net margin of 42.57% and a return on equity of 13.80%. The company posted revenue of $127.80 million for the quarter, versus a consensus estimate of $128.37 million. During the same period a year earlier, the company posted EPS of $1.02.
Several analysts have recently weighed in on SASR shares. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. DA Davidson began covering shares of Sandy Spring Bancorp in a Tuesday, March 22 report. They set a “buy” rating and a price target of $61.00 on the stock. Ultimately, StockNews.com began covering shares of Sandy Spring Bancorp in a Thursday, March 31 report. They have set a “holding” rating on the stock.
Hedge funds have recently changed their stock holdings. Quadrant Capital Group LLC increased its stake in Sandy Spring Bancorp by 523.1% in the fourth quarter. Quadrant Capital Group LLC now owns 567 shares of the bank worth $27,000 after buying 476 additional shares in the last quarter. Captrust Financial Advisors increased its stake in Sandy Spring Bancorp by 50.6% in the third quarter. Captrust Financial Advisors now owns 961 shares of the bank worth $44,000 after buying 323 more shares in the last quarter. Private Capital Group LLC increased its holdings in Sandy Spring Bancorp by 240.7% in the fourth quarter. Private Capital Group LLC now owns 1,298 shares of the bank worth $62,000 after buying 917 additional shares in the last quarter. Widmann Financial Services Inc. bought a new position in Sandy Spring Bancorp in the fourth quarter worth $86,000. Finally, Signaturefd LLC increased its holdings in Sandy Spring Bancorp by 21.7% in the fourth quarter. Signaturefd LLC now owns 2,138 shares of the bank worth $103,000 after buying 381 additional shares in the last quarter. 66.60% of the shares are currently held by institutional investors.
Sandy Spring Bancorp shares opened at $43.09 on Thursday. The company has a 50-day moving average price of $46.06 and a 200-day moving average price of $47.47. The company has a debt ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.95. Sandy Spring Bancorp has a fifty-two week low of $39.85 and a fifty-two week high of $52.04. The company has a market capitalization of $1.94 billion, a PE ratio of 8.69 and a beta of 1.01.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 28. Investors of record on Friday, February 18 received a dividend of $0.34 per share. This represents an annualized dividend of $1.36 and a yield of 3.16%. This is a positive change from Sandy Spring Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, February 17. Sandy Spring Bancorp’s dividend payout ratio (DPR) is currently 27.42%.
About Sandy Spring Bancorp (Get a rating)
Sandy Spring Bancorp, Inc operates as a bank holding company for Sandy Spring Bank which provides commercial and retail banking, mortgage, private banking and trust services to individuals and businesses. It operates through three segments: Community Banking, Insurance and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.
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