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

Sandy Spring Bancorp (NASDAQ:SASR) posted its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03, Briefing.com reports. The business had revenue of $184.38 million for the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a net margin of 17.43% and a return on equity of 8.66%. During the same period last year, the firm posted $1.16 earnings per share.

Sandy Spring Bancorp Trading Down 1.8 %

SASR traded down $0.39 on Wednesday, hitting $21.52. The company had a trading volume of 37,225 shares, compared to its average volume of 297,034. The company’s fifty day moving average price is $21.64 and its 200 day moving average price is $22.94. Sandy Spring Bancorp has a 1 year low of $19.27 and a 1 year high of $27.90. 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 firm has a market cap of $968.40 million, a P/E ratio of 7.88 and a beta of 0.94.

Sandy Spring Bancorp Announces Dividend

The firm 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 6.32%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 49.82%.

Analyst Ratings Changes

Several research firms recently issued reports on SASR. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective on the stock. StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Stephens lowered their target price on shares of Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.00.

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.