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

Sandy Spring Bancorp (NASDAQ:SASR) announced its quarterly earnings results on Tuesday. The bank reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03, Briefing.com reports. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.69%. The business had revenue of $184.38 million for the quarter, compared to analyst estimates of $97.45 million. During the same quarter in the prior year, the business earned $1.16 EPS.

Sandy Spring Bancorp Price Performance

Shares of Sandy Spring Bancorp stock traded down $0.60 on Thursday, reaching $20.90. 29,829 shares of the stock were exchanged, compared to its average volume of 299,215. The firm’s 50 day moving average is $21.64 and its 200-day moving average is $22.94. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $27.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $940.50 million, a PE ratio of 10.54 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

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

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.