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

Sandy Spring Bancorp (NASDAQ:SASR) posted its earnings results on Tuesday. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. During the same quarter last year, the firm earned $1.16 EPS.

Sandy Spring Bancorp Stock Down 2.7 %

NASDAQ:SASR traded down $0.57 during midday trading on Thursday, hitting $20.93. 34,876 shares of the company were exchanged, compared to its average volume of 299,234. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $941.85 million, a PE ratio of 10.54 and a beta of 0.94. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $27.90. The company has a fifty day simple moving average of $21.64 and a 200 day simple moving average of $22.94.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 annualized dividend and a yield of 6.50%. Sandy Spring Bancorp’s dividend payout ratio is currently 66.67%.

Analysts Set New Price Targets

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