DA Davidson Expects Weaker Earnings for Sandy Spring Bancorp

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities researchers at DA Davidson cut their FY2025 earnings per share estimates for shares of Sandy Spring Bancorp in a report issued on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will earn $2.50 per share for the year, down from their prior estimate of $2.65. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.85 per share.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.71%. The company had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same quarter in the previous year, the firm posted $0.62 EPS.

Separately, StockNews.com assumed coverage on Sandy Spring Bancorp in a research report on Wednesday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.25.

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $33.23 on Friday. Sandy Spring Bancorp has a 12 month low of $19.52 and a 12 month high of $39.55. The firm has a market capitalization of $1.50 billion, a P/E ratio of 17.49 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $35.69 and a two-hundred day simple moving average of $30.81.

Institutional Investors Weigh In On Sandy Spring Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC raised its holdings in shares of Sandy Spring Bancorp by 432.5% in the 2nd quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank’s stock worth $4,690,000 after purchasing an additional 156,377 shares during the period. AQR Capital Management LLC grew its position in Sandy Spring Bancorp by 5.7% during the 2nd quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock worth $11,528,000 after purchasing an additional 25,546 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Sandy Spring Bancorp by 10.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 807,940 shares of the bank’s stock valued at $25,345,000 after acquiring an additional 75,596 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. acquired a new stake in Sandy Spring Bancorp in the 2nd quarter valued at approximately $4,778,000. Finally, Victory Capital Management Inc. grew its position in Sandy Spring Bancorp by 1,199.7% in the second quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock valued at $16,927,000 after acquiring an additional 641,402 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 announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Thursday, November 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 71.58%.

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.