Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Thursday. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.02), Fidelity Earnings reports. The business had revenue of $82.62 million for the quarter, compared to the consensus estimate of $82.74 million. Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. During the same period in the previous year, the business posted $0.62 EPS.
Shares of NASDAQ:SASR traded down $0.22 during trading on Friday, reaching $37.03. The stock had a trading volume of 10,295 shares, compared to its average volume of 126,025. Sandy Spring Bancorp has a 52 week low of $35.73 and a 52 week high of $43.87. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.07 and a beta of 0.68. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.07.
Several equities analysts recently weighed in on SASR shares. BidaskClub raised shares of Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 8th. Robert W. Baird raised shares of Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Friday. ValuEngine lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday. Finally, Zacks Investment Research lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Sandy Spring Bancorp has an average rating of “Hold” and an average target price of $45.83.
In other news, Director Mark C. Michael sold 1,735 shares of Sandy Spring Bancorp stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $39.54, for a total value of $68,601.90. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at $869,880. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.31% of the company’s stock.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.
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