Sandy Spring Bancorp (NASDAQ:SASR) Issues Earnings Results

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

Sandy Spring Bancorp Trading Down 1.8 %

NASDAQ SASR traded down $0.39 during trading hours on Wednesday, reaching $21.52. The company’s stock had a trading volume of 37,225 shares, compared to its average volume of 297,034. The firm has a fifty day simple moving average of $21.64 and a 200-day simple moving average of $22.94. 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 52 week low of $19.27 and a 52 week high of $27.90. The stock has a market cap of $968.40 million, a P/E ratio of 7.88 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 14th were paid 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 of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s payout ratio is 49.82%.

Wall Street Analyst Weigh In

SASR has been the topic of a number of recent research reports. StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Janney Montgomery Scott started coverage on shares of Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price target for the company. Finally, Stephens cut their price target on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.