Sandy Spring Bancorp (NASDAQ:SASR) Announces Earnings Results

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

Sandy Spring Bancorp Stock Performance

NASDAQ SASR opened at $21.50 on Thursday. The stock has a market cap of $967.50 million, a P/E ratio of 10.54 and a beta of 0.94. The company’s 50-day simple moving average is $21.64 and its 200 day simple moving average is $22.94. Sandy Spring Bancorp has a twelve month low of $19.27 and a twelve month high of $27.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.77.

Sandy Spring Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on SASR. 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 began coverage on shares of Sandy Spring Bancorp in a research report on Friday, March 1st. They set a “neutral” rating and a $25.00 target price for the company. Finally, Stephens reissued an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.50.

Sandy Spring Bancorp Company Profile

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.