$62.30 Million in Sales Expected for Sandy Spring Bancorp, Inc. (SASR) This Quarter
Brokerages predict that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will report sales of $62.30 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings, with the lowest sales estimate coming in at $57.80 million and the highest estimate coming in at $66.79 million. Sandy Spring Bancorp reported sales of $51.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.4%. The business is scheduled to issue its next earnings report on Thursday, January 18th.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full year sales of $62.30 million for the current fiscal year, with estimates ranging from $227.60 million to $234.91 million. For the next fiscal year, analysts anticipate that the firm will report sales of $339.88 million per share, with estimates ranging from $336.37 million to $343.38 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The business had revenue of $55.44 million for the quarter, compared to the consensus estimate of $58.34 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.71%. During the same period in the previous year, the firm earned $0.56 EPS.
SASR has been the topic of a number of research analyst reports. BidaskClub lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered Sandy Spring Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine lowered Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in Sandy Spring Bancorp by 197,021.4% in the 2nd quarter. Bank of Montreal Can now owns 27,597 shares of the bank’s stock valued at $1,123,000 after buying an additional 27,583 shares during the last quarter. WBI Investments Inc. bought a new position in Sandy Spring Bancorp in the 2nd quarter valued at $1,113,000. Alliancebernstein L.P. boosted its position in Sandy Spring Bancorp by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 39,491 shares of the bank’s stock valued at $1,619,000 after buying an additional 200 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Sandy Spring Bancorp by 42.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 144,228 shares of the bank’s stock valued at $5,865,000 after buying an additional 43,299 shares during the last quarter. Finally, QS Investors LLC boosted its position in Sandy Spring Bancorp by 27.3% in the 2nd quarter. QS Investors LLC now owns 6,345 shares of the bank’s stock valued at $258,000 after buying an additional 1,362 shares during the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.
Shares of Sandy Spring Bancorp (SASR) opened at 39.96 on Tuesday. Sandy Spring Bancorp has a 52 week low of $30.91 and a 52 week high of $45.64. The firm’s 50-day moving average price is $40.95 and its 200 day moving average price is $40.30. The company has a market cap of $958.52 million, a P/E ratio of 17.11 and a beta of 1.02.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.60%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 43.15%.
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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