Brokerages forecast that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will post sales of $82.74 million for the current quarter, Zacks reports. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings, with estimates ranging from $81.94 million to $83.53 million. Sandy Spring Bancorp reported sales of $55.44 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 49.2%. The business is scheduled to report its next quarterly earnings results on Thursday, October 18th.

According to Zacks, analysts expect that Sandy Spring Bancorp will report full-year sales of $324.33 million for the current year, with estimates ranging from $321.00 million to $328.93 million. For the next financial year, analysts expect that the company will report sales of $345.83 million, with estimates ranging from $337.83 million to $355.67 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). The company had revenue of $79.86 million during the quarter, compared to analysts’ expectations of $81.12 million. Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share.

SASR has been the subject of several analyst reports. BidaskClub upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. ValuEngine upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus price target of $46.20.

Shares of NASDAQ:SASR opened at $39.16 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.15 and a beta of 0.68. Sandy Spring Bancorp has a 52-week low of $36.41 and a 52-week high of $43.87.

In other news, Director Mark C. Michael sold 2,000 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $41.80, for a total transaction of $83,600.00. Following the completion of the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $1,379,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark C. Michael sold 1,735 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.54, for a total value of $68,601.90. Following the transaction, the director now owns 22,000 shares of the company’s stock, valued at $869,880. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,735 shares of company stock valued at $362,862. Company insiders own 3.31% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Sandy Spring Bancorp by 10.2% during the 2nd quarter. BlackRock Inc. now owns 2,889,039 shares of the bank’s stock worth $118,480,000 after purchasing an additional 267,422 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Sandy Spring Bancorp by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,245,581 shares of the bank’s stock worth $92,092,000 after purchasing an additional 271,282 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Sandy Spring Bancorp by 30.4% during the 2nd quarter. Renaissance Technologies LLC now owns 929,710 shares of the bank’s stock worth $38,127,000 after purchasing an additional 216,890 shares during the period. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of Sandy Spring Bancorp by 5.1% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 715,001 shares of the bank’s stock worth $29,322,000 after purchasing an additional 34,974 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Sandy Spring Bancorp by 4.3% during the 2nd quarter. Northern Trust Corp now owns 671,546 shares of the bank’s stock worth $27,540,000 after purchasing an additional 27,846 shares during the period. Institutional investors and hedge funds own 68.67% of the company’s stock.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking services to individuals and businesses in central Maryland, Northern Virginia, and Washington DC markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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