Sandy Spring Bancorp (NASDAQ:SASR) Announces Quarterly Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03, Briefing.com reports. The firm had revenue of $184.38 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $1.16 earnings per share.

Sandy Spring Bancorp Stock Down 1.9 %

Shares of SASR opened at $21.50 on Thursday. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $27.90. The company has a market cap of $967.50 million, a P/E ratio of 10.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $21.64 and a two-hundred day simple moving average of $22.94.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 annualized dividend and a yield of 6.33%. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

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

About Sandy Spring Bancorp

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.