Sandy Spring Bancorp (SASR) to Release Quarterly Earnings on Tuesday

Sandy Spring Bancorp (NASDAQ:SASR) will be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.46 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Tuesday, January 23rd. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. Sandy Spring Bancorp had a return on equity of 8.66% and a net margin of 17.43%. The firm had revenue of $182.18 million during the quarter, compared to analysts’ expectations of $101.53 million. During the same period in the prior year, the company earned $0.79 earnings per share. On average, analysts expect Sandy Spring Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Sandy Spring Bancorp Stock Up 4.1 %

NASDAQ SASR opened at $20.76 on Friday. The business has a fifty day moving average price of $21.69 and a two-hundred day moving average price of $22.92. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $27.90. The stock has a market capitalization of $934.12 million, a PE ratio of 7.60 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.55%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s payout ratio is presently 49.82%.

Analyst Ratings Changes

SASR has been the subject of a number of research reports. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target for the company. Stephens dropped their price target on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Institutional Trading of Sandy Spring Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Sandy Spring Bancorp by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 2,673,548 shares of the bank’s stock valued at $72,827,000 after purchasing an additional 44,611 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Sandy Spring Bancorp by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,613 shares of the bank’s stock valued at $1,053,000 after purchasing an additional 850 shares during the period. Barclays PLC increased its holdings in Sandy Spring Bancorp by 19.9% in the fourth quarter. Barclays PLC now owns 120,239 shares of the bank’s stock valued at $3,275,000 after purchasing an additional 19,986 shares during the period. North Reef Capital Management LP increased its holdings in Sandy Spring Bancorp by 30.7% in the fourth quarter. North Reef Capital Management LP now owns 568,301 shares of the bank’s stock valued at $15,481,000 after purchasing an additional 133,421 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Sandy Spring Bancorp by 3.4% in the fourth quarter. Nuveen Asset Management LLC now owns 121,046 shares of the bank’s stock valued at $3,297,000 after purchasing an additional 3,947 shares during the period. 66.90% of the stock is currently owned by institutional investors and hedge funds.

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.