Brokerages forecast that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will announce sales of $58.34 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings. The highest sales estimate is $58.49 million and the lowest is $58.19 million. Sandy Spring Bancorp posted sales of $50.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The firm is expected to report its next earnings report on Thursday, October 19th.

According to Zacks, analysts expect that Sandy Spring Bancorp will report full year sales of $58.34 million for the current financial year, with estimates ranging from $229.88 million to $236.83 million. For the next financial year, analysts anticipate that the company will report sales of $346.59 million per share, with estimates ranging from $344.73 million to $348.44 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, July 20th. The bank reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $55.90 million during the quarter, compared to analysts’ expectations of $55.53 million. Sandy Spring Bancorp had a return on equity of 10.44% and a net margin of 24.33%. During the same quarter in the previous year, the business earned $0.44 earnings per share.

A number of research analysts recently commented on SASR shares. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a report on Friday, May 19th. ValuEngine raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, May 17th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $40.00 price target on shares of Sandy Spring Bancorp in a report on Friday, April 21st. Finally, BidaskClub downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Sandy Spring Bancorp by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,787,390 shares of the bank’s stock worth $72,676,000 after buying an additional 28,837 shares in the last quarter. Vanguard Group Inc. increased its position in Sandy Spring Bancorp by 1.0% in the second quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock worth $44,423,000 after buying an additional 10,359 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Sandy Spring Bancorp by 13.9% in the second quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after buying an additional 98,650 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in Sandy Spring Bancorp by 2.9% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 611,923 shares of the bank’s stock worth $25,083,000 after buying an additional 17,239 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Sandy Spring Bancorp by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 535,327 shares of the bank’s stock worth $21,766,000 after buying an additional 1,429 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Sandy Spring Bancorp (SASR) opened at 38.64 on Thursday. The company’s 50-day moving average price is $39.83 and its 200 day moving average price is $40.94. Sandy Spring Bancorp has a 1-year low of $27.86 and a 1-year high of $45.64. The stock has a market cap of $926.86 million, a PE ratio of 16.54 and a beta of 1.02.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Investors of record on Wednesday, August 9th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, August 7th. Sandy Spring Bancorp’s dividend payout ratio is currently 44.26%.

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About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.

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

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