Sandy Spring Bancorp (NASDAQ:SASR) released its quarterly earnings results on Thursday. The bank reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02, Bloomberg Earnings reports. Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. The firm had revenue of $55.79 million for the quarter, compared to analysts’ expectations of $56.21 million. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 8.7% compared to the same quarter last year.
Shares of Sandy Spring Bancorp (NASDAQ:SASR) traded down $0.22 during trading on Thursday, reaching $40.64. The company had a trading volume of 304,800 shares, compared to its average volume of 307,691. Sandy Spring Bancorp has a one year low of $36.50 and a one year high of $45.64. The company has a market cap of $980.38, a PE ratio of 16.86, a P/E/G ratio of 0.89 and a beta of 0.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.
A number of brokerages recently commented on SASR. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Finally, BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus target price of $44.75.
A number of institutional investors have recently made changes to their positions in SASR. Thrivent Financial For Lutherans increased its stake in Sandy Spring Bancorp by 90.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 309,182 shares of the bank’s stock worth $12,571,000 after buying an additional 147,030 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Sandy Spring Bancorp by 13.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after buying an additional 98,650 shares in the last quarter. Renaissance Technologies LLC increased its stake in Sandy Spring Bancorp by 26.7% in the 2nd quarter. Renaissance Technologies LLC now owns 431,354 shares of the bank’s stock worth $17,539,000 after buying an additional 90,954 shares in the last quarter. State Street Corp increased its stake in Sandy Spring Bancorp by 16.9% in the 2nd quarter. State Street Corp now owns 523,549 shares of the bank’s stock worth $21,287,000 after buying an additional 75,500 shares in the last quarter. Finally, 361 Capital LLC purchased a new stake in Sandy Spring Bancorp in the 3rd quarter worth $2,173,000. 70.37% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Sandy Spring Bancorp (SASR) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/18/sandy-spring-bancorp-sasr-releases-quarterly-earnings-results-beats-estimates-by-0-02-eps.html.
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.
Receive News & Ratings for Sandy Spring Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.