Sandy Spring Bancorp (NASDAQ:SASR) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR) announced its earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03, Briefing.com reports. The business had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. During the same period in the prior year, the company posted $1.16 EPS.

Sandy Spring Bancorp Stock Down 1.9 %

Shares of SASR opened at $21.50 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $21.64 and a 200 day moving average price of $22.94. The stock has a market capitalization of $967.50 million, a price-to-earnings ratio of 10.54 and a beta of 0.94. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $27.90.

Sandy Spring Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They set a “neutral” rating and a $25.00 price target for the company. Finally, Stephens reiterated an “equal weight” rating and set a $25.00 price target on shares of Sandy Spring Bancorp in a research report on Wednesday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Sandy Spring Bancorp 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.