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

Sandy Spring Bancorp (NASDAQ:SASR) released its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The business had revenue of $184.38 million during the quarter, compared to analyst estimates of $97.45 million. During the same quarter in the previous year, the firm posted $1.16 EPS.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $21.50 on Thursday. Sandy Spring Bancorp has a 1-year low of $19.27 and a 1-year high of $27.90. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $967.50 million, a price-to-earnings ratio of 10.54 and a beta of 0.94. The stock’s fifty day simple moving average is $21.64 and its 200-day simple moving average is $22.94.

Sandy Spring Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

SASR has been the subject of a number of analyst reports. Stephens restated an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research report on Wednesday. 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 objective for the company. Finally, StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus price target of $23.50.

Sandy Spring Bancorp Company Profile

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.