Sandy Spring Bancorp (NASDAQ:SASR) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Sandy Spring Bancorp (NASDAQ:SASR) released its quarterly earnings results on Tuesday. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08, Briefing.com reports. The business had revenue of $184.70 million during the quarter, compared to analyst estimates of $99.60 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. During the same quarter in the prior year, the firm earned $0.60 earnings per share.

Sandy Spring Bancorp Trading Down 0.7 %

Shares of SASR traded down $0.21 during midday trading on Wednesday, hitting $30.94. The stock had a trading volume of 148,444 shares, compared to its average volume of 299,266. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $31.71. The business has a 50-day simple moving average of $24.25 and a two-hundred day simple moving average of $23.21. The firm has a market cap of $1.39 billion, a P/E ratio of 15.18 and a beta of 0.97. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55.

Sandy Spring Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Tuesday, May 7th. Sandy Spring Bancorp’s payout ratio is 66.67%.

Analyst Ratings Changes

Several equities analysts have recently commented on SASR shares. 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, April 24th. StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock 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.