Sandy Spring Bancorp (SASR) to Release Quarterly Earnings on Thursday

Sandy Spring Bancorp (NASDAQ:SASRGet Rating) will be issuing its quarterly earnings data before the market opens on Thursday, April 21st. Analysts expect the company to announce earnings of $0.92 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Sandy Spring Bancorp (NASDAQ:SASRGet Rating) last released its earnings results on Thursday, January 20th. The bank reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.05). Sandy Spring Bancorp had a net margin of 42.57% and a return on equity of 13.80%. The business had revenue of $127.80 million for the quarter, compared to analysts’ expectations of $128.37 million. During the same period last year, the firm earned $1.02 EPS. On average, analysts expect Sandy Spring Bancorp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

NASDAQ:SASR opened at $43.53 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.95 and a quick ratio of 0.95. Sandy Spring Bancorp has a fifty-two week low of $39.85 and a fifty-two week high of $52.04. The stock’s 50-day moving average is $45.63 and its two-hundred day moving average is $47.49. The stock has a market cap of $1.98 billion, a PE ratio of 8.78 and a beta of 1.01.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 28th. Shareholders of record on Friday, February 18th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, February 17th. This is a boost from Sandy Spring Bancorp’s previous quarterly dividend of $0.32. Sandy Spring Bancorp’s payout ratio is 27.42%.

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Sandy Spring Bancorp in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. Finally, DA Davidson initiated coverage on Sandy Spring Bancorp in a research note on Tuesday, March 22nd. They issued a “buy” rating and a $61.00 price target for the company.

A number of large investors have recently modified their holdings of SASR. Millennium Management LLC bought a new stake in Sandy Spring Bancorp in the second quarter worth $273,000. Morgan Stanley boosted its holdings in Sandy Spring Bancorp by 21.4% in the second quarter. Morgan Stanley now owns 138,865 shares of the bank’s stock worth $6,129,000 after purchasing an additional 24,502 shares in the last quarter. Royal Bank of Canada boosted its holdings in Sandy Spring Bancorp by 6.7% in the third quarter. Royal Bank of Canada now owns 15,402 shares of the bank’s stock worth $706,000 after purchasing an additional 972 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Sandy Spring Bancorp by 103.2% in the third quarter. BNP Paribas Arbitrage SA now owns 12,950 shares of the bank’s stock worth $593,000 after purchasing an additional 6,577 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Sandy Spring Bancorp by 73.3% in the fourth quarter. Citigroup Inc. now owns 14,201 shares of the bank’s stock worth $683,000 after purchasing an additional 6,005 shares in the last quarter. Hedge funds and other institutional investors own 66.60% of the company’s stock.

About Sandy Spring Bancorp (Get Rating)

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. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.

Further Reading

Earnings History for Sandy Spring Bancorp (NASDAQ:SASR)

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