Zacks: Brokerages Expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to Post $0.96 EPS

Brokerages forecast that Sandy Spring Bancorp, Inc. (NASDAQ:SASRGet Rating) will post $0.96 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings. The highest EPS estimate is $0.97 and the lowest is $0.94. Sandy Spring Bancorp posted earnings of $1.16 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 17.2%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Sandy Spring Bancorp will report full-year earnings of $3.87 per share for the current fiscal year, with EPS estimates ranging from $3.80 to $3.95. For the next year, analysts forecast that the company will post earnings of $4.03 per share, with EPS estimates ranging from $3.93 to $4.20. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASRGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The bank reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. Sandy Spring Bancorp had a net margin of 37.99% and a return on equity of 12.96%. The company had revenue of $122.05 million during the quarter, compared to analysts’ expectations of $126.05 million. During the same period last year, the company posted $1.20 EPS.

Several research analysts have issued reports on the stock. DA Davidson assumed coverage on shares of Sandy Spring Bancorp in a report on Tuesday, March 22nd. They issued a “buy” rating and a $61.00 target price for the company. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Keefe, Bruyette & Woods lowered shares of Sandy Spring Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $53.00 to $50.00 in a research note on Friday, April 22nd. Finally, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company.

NASDAQ SASR traded up $1.14 during trading hours on Tuesday, reaching $39.52. 834 shares of the company’s stock traded hands, compared to its average volume of 128,290. Sandy Spring Bancorp has a 52-week low of $37.61 and a 52-week high of $52.04. The firm has a market cap of $1.79 billion, a PE ratio of 9.11 and a beta of 1.03. The firm has a 50-day simple moving average of $42.91 and a 200 day simple moving average of $46.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 11th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, May 10th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 31.34%.

Several hedge funds have recently added to or reduced their stakes in SASR. Quadrant Capital Group LLC grew its holdings in shares of Sandy Spring Bancorp by 523.1% in the fourth quarter. Quadrant Capital Group LLC now owns 567 shares of the bank’s stock worth $27,000 after purchasing an additional 476 shares during the last quarter. Allworth Financial LP grew its holdings in Sandy Spring Bancorp by 5,790.9% during the 1st quarter. Allworth Financial LP now owns 648 shares of the bank’s stock worth $29,000 after acquiring an additional 637 shares in the last quarter. Captrust Financial Advisors grew its holdings in Sandy Spring Bancorp by 50.6% during the 3rd quarter. Captrust Financial Advisors now owns 961 shares of the bank’s stock worth $44,000 after acquiring an additional 323 shares in the last quarter. Private Capital Group LLC grew its holdings in Sandy Spring Bancorp by 240.7% during the 4th quarter. Private Capital Group LLC now owns 1,298 shares of the bank’s stock worth $62,000 after acquiring an additional 917 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Sandy Spring Bancorp during the 1st quarter worth about $71,000. 66.43% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for Sandy Spring Bancorp (NASDAQ:SASR)

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