Research Analysts Issue Forecasts for Sandy Spring Bancorp, Inc.’s FY2024 Earnings (NASDAQ:SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Analysts at DA Davidson issued their FY2024 earnings per share (EPS) estimates for Sandy Spring Bancorp in a research report issued to clients and investors on Tuesday, April 30th. DA Davidson analyst M. Navas forecasts that the bank will post earnings per share of $1.90 for the year. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $2.03 per share.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The company had revenue of $184.38 million for the quarter, compared to analyst estimates of $97.45 million. During the same period last year, the company posted $1.16 earnings per share.

A number of other brokerages have also issued reports on SASR. StockNews.com lowered Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Janney Montgomery Scott began coverage on 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, Stephens reaffirmed an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Sandy Spring Bancorp Trading Up 3.4 %

NASDAQ:SASR opened at $21.15 on Thursday. The business’s 50-day moving average is $21.50 and its two-hundred day moving average is $22.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. Sandy Spring Bancorp has a 12 month low of $19.27 and a 12 month high of $27.90. The firm has a market capitalization of $951.75 million, a PE ratio of 10.37 and a beta of 0.94.

Hedge Funds Weigh In On Sandy Spring Bancorp

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Sandy Spring Bancorp by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,628,937 shares of the bank’s stock valued at $56,338,000 after acquiring an additional 12,576 shares during the period. Dimensional Fund Advisors LP boosted its stake in Sandy Spring Bancorp by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank’s stock valued at $61,033,000 after acquiring an additional 52,454 shares during the period. Invesco Ltd. boosted its stake in Sandy Spring Bancorp by 4.8% in the third quarter. Invesco Ltd. now owns 1,432,995 shares of the bank’s stock valued at $30,709,000 after acquiring an additional 65,841 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Sandy Spring Bancorp by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 854,774 shares of the bank’s stock valued at $23,284,000 after acquiring an additional 4,855 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sandy Spring Bancorp by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank’s stock valued at $15,816,000 after acquiring an additional 40,374 shares during the period. 66.90% of the stock is currently owned by institutional investors and hedge funds.

Sandy Spring Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a yield of 6.43%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

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.