Equities Analysts Offer Predictions for Sandy Spring Bancorp, Inc.’s Q1 2018 Earnings (SASR)
Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities researchers at Boenning Scattergood issued their Q1 2018 earnings estimates for Sandy Spring Bancorp in a research report issued on Friday. Boenning Scattergood analyst M. Schultheis expects that the bank will post earnings per share of $0.69 for the quarter. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Sandy Spring Bancorp’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.72 EPS and FY2019 earnings at $3.05 EPS.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.71%. The company had revenue of $55.44 million for the quarter, compared to analyst estimates of $58.34 million. During the same quarter in the previous year, the company posted $0.56 EPS.
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Several other brokerages have also recently issued reports on SASR. ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, July 25th. Finally, BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.00.
Sandy Spring Bancorp (NASDAQ:SASR) opened at 41.99 on Monday. The firm’s 50-day moving average is $40.49 and its 200-day moving average is $40.27. Sandy Spring Bancorp has a 52 week low of $30.38 and a 52 week high of $45.64. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 17.98 and a beta of 1.03.
Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Sandy Spring Bancorp by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 535,327 shares of the bank’s stock worth $21,766,000 after purchasing an additional 1,429 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth $353,000. BlueCrest Capital Management Ltd acquired a new position in shares of Sandy Spring Bancorp during the 2nd quarter worth $263,000. State Street Corp grew its stake in shares of Sandy Spring Bancorp by 16.9% during the 2nd quarter. State Street Corp now owns 523,549 shares of the bank’s stock worth $21,287,000 after purchasing an additional 75,500 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Sandy Spring Bancorp by 13.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock worth $32,854,000 after purchasing an additional 98,650 shares during the period. 67.60% of the stock is currently owned by institutional investors.
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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