Zacks: Brokerages Anticipate Sandy Spring Bancorp, Inc. (SASR) Will Post Quarterly Sales of $62.30 Million
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.
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.
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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