Equities analysts expect that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will report sales of $62.30 million for the current fiscal quarter, Zacks reports. Two analysts have made 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 during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The firm is scheduled to report its next earnings results 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 year, with estimates ranging from $227.60 million to $234.91 million. For the next fiscal year, analysts expect that the firm will report sales of $339.88 million per share, with estimates ranging from $336.37 million to $343.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for 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 (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 10.61%. The company had revenue of $55.44 million during the quarter, compared to the consensus estimate of $58.34 million. During the same quarter in the prior year, the company earned $0.56 EPS.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Sandy Spring Bancorp currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Shares of Sandy Spring Bancorp (NASDAQ:SASR) traded down $0.06 during midday trading on Tuesday, reaching $38.94. 90,200 shares of the company’s stock were exchanged, compared to its average volume of 85,665. Sandy Spring Bancorp has a 52 week low of $34.92 and a 52 week high of $45.64. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.12. The firm has a market cap of $935.75, a P/E ratio of 16.18 and a beta of 1.02.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.67%. Sandy Spring Bancorp’s dividend payout ratio is currently 43.15%.

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Sandy Spring Bancorp by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,822,745 shares of the bank’s stock valued at $75,534,000 after purchasing an additional 35,355 shares during the last quarter. Vanguard Group Inc. grew its holdings in Sandy Spring Bancorp by 1.0% during the second quarter. Vanguard Group Inc. now owns 1,092,551 shares of the bank’s stock valued at $44,423,000 after purchasing an additional 10,359 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Sandy Spring Bancorp by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock valued at $39,137,000 after acquiring an additional 25,663 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Sandy Spring Bancorp by 13.9% in the second quarter. Goldman Sachs Group Inc. now owns 808,009 shares of the bank’s stock valued at $32,854,000 after acquiring an additional 98,650 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 valued at $21,766,000 after acquiring an additional 1,429 shares during the period. Institutional investors own 69.37% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/11/21/zacks-brokerages-anticipate-sandy-spring-bancorp-inc-sasr-will-post-quarterly-sales-of-62-30-million.html.

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.

Get a free copy of the Zacks research report on Sandy Spring Bancorp (SASR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Sandy Spring Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sandy Spring Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.