Sandy Spring Bancorp (SASR) Issues Earnings Results, Misses Estimates By $0.07 EPS
Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Thursday. The bank reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07), Bloomberg Earnings reports. Sandy Spring Bancorp had a return on equity of 10.48% and a net margin of 23.98%. During the same period in the prior year, the company earned $0.34 EPS.
Shares of Sandy Spring Bancorp stock traded down $2.19 during trading on Thursday, hitting $32.05. The stock had a trading volume of 298,283 shares, compared to its average volume of 118,833. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.91 and a beta of 0.81. Sandy Spring Bancorp has a fifty-two week low of $29.87 and a fifty-two week high of $43.87.
A number of research analysts recently commented on SASR shares. Robert W. Baird upgraded Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Friday, October 19th. BidaskClub cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 25th. Boenning Scattergood raised Sandy Spring Bancorp from a “neutral” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Monday, November 19th. Finally, Zacks Investment Research cut Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.40.
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About Sandy Spring Bancorp
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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