Sandy Spring Bancorp (NASDAQ:SASR) Issues Quarterly Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) posted its earnings results on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03, Briefing.com reports. The company had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. During the same quarter last year, the firm earned $1.16 earnings per share.

Sandy Spring Bancorp Stock Down 1.9 %

Sandy Spring Bancorp stock opened at $21.50 on Thursday. Sandy Spring Bancorp has a 1-year low of $19.27 and a 1-year high of $27.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $967.50 million, a PE ratio of 10.54 and a beta of 0.94. The stock’s fifty day moving average is $21.64 and its two-hundred day moving average is $22.94.

Sandy Spring Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is presently 66.67%.

Analyst Ratings Changes

Several research firms have issued reports on SASR. Janney Montgomery Scott initiated coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They set a “neutral” rating and a $25.00 target price for the company. StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Stephens restated an “equal weight” rating and set a $25.00 price target on shares of Sandy Spring Bancorp in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Sandy Spring Bancorp currently has a consensus rating of “Hold” and a consensus target price of $23.50.

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.