Sandy Spring Bancorp (NASDAQ:SASR) Posts Earnings Results, Beats Expectations By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR) announced its quarterly earnings data on Tuesday. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. The business had revenue of $184.38 million during 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 quarter in the previous year, the business earned $1.16 earnings per share.

Sandy Spring Bancorp Trading Down 1.9 %

Shares of SASR opened at $21.50 on Thursday. The stock’s 50-day moving average is $21.64 and its two-hundred day moving average is $22.94. The stock has a market cap of $967.50 million, a PE ratio of 10.54 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 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 Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SASR shares. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and issued a $25.00 price objective on shares of Sandy Spring Bancorp in a research report on Wednesday. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.50.

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.