Sandy Spring Bancorp, Inc. (NASDAQ:SASR – Get Rating) – Analysts at DA Davidson issued their Q2 2022 earnings estimates for Sandy Spring Bancorp in a research report issued to clients and investors on Friday, April 22nd. DA Davidson analyst R. Gunther expects that the bank will earn $0.97 per share for the quarter. DA Davidson has a “Buy” rating and a $61.00 price objective on the stock. DA Davidson also issued estimates for Sandy Spring Bancorp’s FY2022 earnings at $3.95 EPS.
Sandy Spring Bancorp (NASDAQ:SASR – Get Rating) last announced its earnings results on Thursday, April 21st. The bank reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 12.96%. During the same period in the prior year, the company earned $1.20 earnings per share.
Shares of SASR stock opened at $42.03 on Monday. The firm has a 50-day moving average of $45.05 and a 200-day moving average of $47.35. The company has a market cap of $1.91 billion, a P/E ratio of 9.68 and a beta of 1.01. 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 one year low of $39.85 and a one year high of $52.04.
A number of hedge funds and other institutional investors have recently bought and sold shares of SASR. William Blair Investment Management LLC increased its holdings in Sandy Spring Bancorp by 2,971.3% during the third quarter. William Blair Investment Management LLC now owns 806,163 shares of the bank’s stock worth $36,938,000 after buying an additional 779,915 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Sandy Spring Bancorp by 3,707.8% in the fourth quarter. Victory Capital Management Inc. now owns 517,977 shares of the bank’s stock worth $24,905,000 after purchasing an additional 504,374 shares in the last quarter. Norges Bank purchased a new position in shares of Sandy Spring Bancorp in the fourth quarter worth about $21,532,000. State Street Corp increased its stake in shares of Sandy Spring Bancorp by 24.6% in the fourth quarter. State Street Corp now owns 1,503,274 shares of the bank’s stock worth $72,277,000 after purchasing an additional 296,754 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Sandy Spring Bancorp by 89.0% in the third quarter. Bank of New York Mellon Corp now owns 608,912 shares of the bank’s stock worth $27,900,000 after purchasing an additional 286,705 shares in the last quarter. Institutional investors and hedge funds own 66.60% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 28th. Investors of record on Friday, February 18th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, February 17th. This is an increase from Sandy Spring Bancorp’s previous quarterly dividend of $0.32. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 31.34%.
Sandy Spring Bancorp Company Profile (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.
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