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

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

Sandy Spring Bancorp Stock Performance

Shares of NASDAQ:SASR traded down $0.56 during trading on Wednesday, hitting $21.35. 12,323 shares of the stock were exchanged, compared to its average volume of 296,839. Sandy Spring Bancorp has a 1-year low of $19.27 and a 1-year high of $27.90. The company has a market capitalization of $960.75 million, a price-to-earnings ratio of 7.88 and a beta of 0.94. The company’s fifty day simple moving average is $21.64 and its 200-day simple moving average is $22.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.06 and a current ratio of 1.06.

Sandy Spring Bancorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 6.37%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s payout ratio is presently 49.82%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SASR shares. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a research note 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 report on Thursday, January 18th. Finally, Stephens lowered their target price on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

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.