Brokers Offer Predictions for Sandy Spring Bancorp Inc.’s FY2017 Earnings (SASR)

Sandy Spring Bancorp Inc. (NASDAQ:SASR) – Equities research analysts at Gabelli issued their FY2017 earnings estimates for Sandy Spring Bancorp in a report issued on Monday. Gabelli analyst S. Comery anticipates that the bank will post earnings of $2.50 per share for the year. Gabelli has a “Buy” rating and a $50.00 price objective on the stock. Gabelli also issued estimates for Sandy Spring Bancorp’s FY2018 earnings at $2.85 EPS, FY2019 earnings at $3.25 EPS, FY2020 earnings at $3.55 EPS and FY2021 earnings at $3.85 EPS.

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research note on Thursday, January 4th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research note on Tuesday, January 2nd. Finally, ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $45.00.

Sandy Spring Bancorp (NASDAQ:SASR) opened at $39.71 on Wednesday. The company has a market cap of $936.23, a price-to-earnings ratio of 16.48 and a beta of 0.99. Sandy Spring Bancorp has a twelve month low of $36.50 and a twelve month high of $45.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.12.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The company had revenue of $55.44 million during the quarter, compared to the consensus estimate of $58.34 million. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. During the same period in the previous year, the company earned $0.56 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Sandy Spring Bancorp by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock valued at $75,534,000 after buying an additional 35,355 shares during the period. Vanguard Group Inc. boosted its position in Sandy Spring Bancorp by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after buying an additional 10,359 shares during the period. Ameriprise Financial Inc. boosted its position in Sandy Spring Bancorp by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock valued at $39,137,000 after buying an additional 25,663 shares during the period. Goldman Sachs Group Inc. boosted its position in Sandy Spring Bancorp by 13.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock valued at $32,854,000 after buying an additional 98,650 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Sandy Spring Bancorp by 6.1% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock valued at $25,311,000 after buying an additional 37,386 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

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About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.

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