Brokerage Firms Predict Sandy Spring Bancorp, Inc. (NASDAQ: SASR) To Report Earnings Per Share Of $ 1.10
Wall Street analysts expect Sandy Spring Bancorp, Inc. (NASDAQ: SASR) to post earnings per share (EPS) of $ 1.10 for the current fiscal quarter, Zacks reports. Two analysts have provided earnings estimates for Sandy Spring Bancorp. Sandy Spring Bancorp posted earnings per share of $ 1.02 in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.8%. The company is expected to release its next earnings report on Thursday, January 20.
On average, analysts expect Sandy Spring Bancorp to report annual earnings of $ 5.08 per share for the current year, with EPS estimates ranging from $ 5.07 to $ 5.09. For the next fiscal year, analysts expect the company to report earnings of $ 3.74 per share, with EPS estimates ranging from $ 3.68 to $ 3.84. Zacks Investment Research’s EPS averages are an average based on a survey of research companies that cover Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ: SASR) last released its quarterly earnings data on Wednesday, October 20. The bank announced EPS of $ 1.20 for the quarter, beating the consensus estimate of $ 1.10 by $ 0.10. Sandy Spring Bancorp recorded a return on equity of 13.94% and a net margin of 43.70%. The company posted revenue of $ 131.00 million for the quarter, compared to analysts’ expectations of $ 131.96 million. During the same period last year, the company posted earnings of $ 0.97 per share. Sandy Spring Bancorp’s revenues increased 3.3% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a target price of $ 53.00 for the stock in a report released Friday.
Sandy Spring Bancorp shares traded up $ 0.02 in Friday trading, reaching $ 47.57. 74,759 shares of the company were traded in the hands, compared to its average volume of 169,534. The company has a leverage ratio of 0.11, a current ratio of 0.96 and a rapid ratio of 0, 95. Sandy Spring Bancorp has a one-year low of $ 31.25 and a one-year high of $ 51.31. The stock has a market cap of $ 2.17 billion, a P / E ratio of 9.22 and a beta of 1.08. The company has a 50-day simple moving average of $ 48.73 and a 200-day simple moving average of $ 45.50.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 17. Shareholders of record on Wednesday, November 10 received a dividend of $ 0.32. This represents a dividend of $ 1.28 on an annualized basis and a return of 2.69%. The ex-dividend date was Tuesday, November 9. Sandy Spring Bancorp’s dividend payout ratio is 24.81%.
Meanwhile, Executive Vice President Kenneth C. Cook sold 2,531 shares of the company in a transaction dated Wednesday, November 10. The stock was sold for an average price of $ 50.44, for a total value of $ 127,663.64. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Executive Vice President Kenneth C. Cook sold 13,500 shares of the company in a transaction dated Tuesday, October 26. The stock was sold for an average price of $ 48.27, for a total value of $ 651,645.00. Disclosure of this sale can be found here. 3.05% of the shares are currently held by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares in the company. Morgan Stanley increased its stake in Sandy Spring Bancorp by 21.4% during the 2nd quarter. Morgan Stanley now owns 138,865 shares of the bank valued at $ 6,129,000 after purchasing an additional 24,502 shares during the period. Principal Financial Group Inc. increased its stake in Sandy Spring Bancorp by 12.4% during the second quarter. Principal Financial Group Inc. now owns 48,699 shares of the bank valued at $ 2,149,000 after purchasing an additional 5,364 shares during the period. Citigroup Inc. increased its stake in Sandy Spring Bancorp by 10.4% during the 2nd quarter. Citigroup Inc. now owns 23,972 shares of the bank valued at $ 1,058,000 after purchasing an additional 2,266 shares during the period. Berman Capital Advisors LLC increased its stake in Sandy Spring Bancorp by 100.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,448 shares of the bank valued at $ 63,000 after purchasing an additional 724 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Sandy Spring Bancorp by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 615,425 shares of the bank valued at $ 27,159,000 after purchasing an additional 9,776 shares during the period. 64.40% of the shares are currently held by hedge funds and other institutional investors.
Sandy Spring Bancorp Company Profile
Sandy Spring Bancorp, Inc is a banking holding company providing commercial, retail and trust banking services to individuals and businesses. It operates in the following segments: community banking, insurance and investment management. The Community Banking segment operates through Sandy Spring Bank and is engaged in providing financial products and services, including various loan and deposit products to individuals and businesses.
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