Analysts Offer Predictions for Sandy Spring Bancorp, Inc.’s FY2024 Earnings (NASDAQ:SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Analysts at DA Davidson issued their FY2024 earnings per share estimates for Sandy Spring Bancorp in a research report issued on Tuesday, April 30th. DA Davidson analyst M. Navas expects that the bank will post earnings of $1.90 per share for the year. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.97 per share.

A number of other equities research analysts also recently commented on the company. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a “neutral” rating and a $25.00 target price on the stock. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, 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, April 24th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.50.

Sandy Spring Bancorp Price Performance

NASDAQ:SASR opened at $22.24 on Thursday. 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 $1.00 billion, a P/E ratio of 10.90 and a beta of 0.94. Sandy Spring Bancorp has a 12 month low of $19.27 and a 12 month high of $27.90. The business’s 50-day moving average is $21.48 and its 200 day moving average is $22.94.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $184.38 million for 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 previous year, the business earned $1.16 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CWM LLC grew its stake in Sandy Spring Bancorp by 30.0% in the third quarter. CWM LLC now owns 2,217 shares of the bank’s stock worth $48,000 after purchasing an additional 512 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Sandy Spring Bancorp during the 4th quarter valued at $77,000. Quantbot Technologies LP purchased a new stake in shares of Sandy Spring Bancorp during the 3rd quarter valued at $94,000. SG Americas Securities LLC purchased a new position in Sandy Spring Bancorp in the 3rd quarter worth $115,000. Finally, Quadrant Capital Group LLC raised its stake in Sandy Spring Bancorp by 40.6% in the 4th quarter. Quadrant Capital Group LLC now owns 5,521 shares of the bank’s stock worth $150,000 after acquiring an additional 1,595 shares during the last quarter. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a yield of 6.12%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

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.