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

Sandy Spring Bancorp (NASDAQ:SASR) posted its earnings results on Monday. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06), Briefing.com reports. The business had revenue of $189.81 million for the quarter, compared to analysts’ expectations of $101.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same quarter last year, the business posted $0.62 earnings per share.

Sandy Spring Bancorp Price Performance

SASR stock opened at $32.04 on Wednesday. The firm has a market capitalization of $1.45 billion, a PE ratio of 16.02 and a beta of 0.95. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $34.19. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $31.28 and a two-hundred day moving average of $26.70.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is presently 68.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SASR shares. DA Davidson boosted their target price on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.00.

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.