Sandy Spring Bancorp, Inc. (SASR) Expected to Announce Quarterly Sales of $58.34 Million
Equities research analysts expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to report sales of $58.34 million for the current quarter, Zacks reports. Two analysts have made estimates for Sandy Spring Bancorp’s earnings. The lowest sales estimate is $58.19 million and the highest is $58.49 million. Sandy Spring Bancorp reported sales of $50.32 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.9%. The business is expected to issue its next earnings results before the market opens on Thursday, October 19th.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full-year sales of $58.34 million for the current year, with estimates ranging from $229.88 million to $236.83 million. For the next fiscal year, analysts forecast that the company will report sales of $346.59 million per share, with estimates ranging from $344.73 million to $348.44 million. Zacks’ sales averages are an average based on a survey of analysts that follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Sandy Spring Bancorp had a return on equity of 10.44% and a net margin of 24.33%. The firm had revenue of $55.90 million during the quarter, compared to the consensus estimate of $55.53 million. During the same period in the previous year, the firm posted $0.44 EPS.
Several brokerages recently commented on SASR. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, ValuEngine downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th.
Sandy Spring Bancorp (NASDAQ SASR) traded down 0.44% during mid-day trading on Thursday, reaching $42.59. 44,632 shares of the company’s stock traded hands. Sandy Spring Bancorp has a 52-week low of $29.48 and a 52-week high of $45.64. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.23 and a beta of 1.03. The company has a 50-day moving average of $39.99 and a 200-day moving average of $40.21.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth $133,000. BNP Paribas Arbitrage SA increased its stake in shares of Sandy Spring Bancorp by 554.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock worth $146,000 after purchasing an additional 3,038 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth $146,000. Victory Capital Management Inc. acquired a new position in shares of Sandy Spring Bancorp during the 1st quarter worth $177,000. Finally, QS Investors LLC increased its stake in shares of Sandy Spring Bancorp by 27.3% during the 2nd quarter. QS Investors LLC now owns 6,345 shares of the bank’s stock worth $258,000 after purchasing an additional 1,362 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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