$62.30 Million in Sales Expected for Sandy Spring Bancorp, Inc. (SASR) This Quarter
Equities research analysts expect that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will post sales of $62.30 million for the current quarter, according to Zacks. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings, with the highest sales estimate coming in at $66.79 million and the lowest estimate coming in at $57.80 million. Sandy Spring Bancorp reported sales of $51.31 million during the same quarter last year, which indicates a positive year over year growth rate of 21.4%. The firm is scheduled to announce its next quarterly 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 financial year, with estimates ranging from $227.60 million to $234.91 million. For the next fiscal year, analysts expect that the firm will post sales of $339.88 million per share, with estimates ranging from $336.37 million to $343.38 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The business had revenue of $55.44 million for the quarter, compared to analyst estimates of $58.34 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. During the same period last year, the business posted $0.56 earnings per share.
A number of hedge funds have recently made changes to their positions in SASR. Teachers Advisors LLC boosted its stake in Sandy Spring Bancorp by 3.9% during the first quarter. Teachers Advisors LLC now owns 51,023 shares of the bank’s stock valued at $2,091,000 after buying an additional 1,930 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sandy Spring Bancorp by 5.0% during the first quarter. Vanguard Group Inc. now owns 1,082,192 shares of the bank’s stock valued at $44,360,000 after buying an additional 51,096 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Sandy Spring Bancorp by 13.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 100,929 shares of the bank’s stock valued at $4,138,000 after purchasing an additional 12,044 shares during the period. State Street Corp boosted its position in shares of Sandy Spring Bancorp by 0.5% in the 1st quarter. State Street Corp now owns 448,049 shares of the bank’s stock valued at $18,364,000 after purchasing an additional 2,160 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of 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 purchasing an additional 27,583 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.
Shares of Sandy Spring Bancorp (SASR) remained flat at $$39.38 on Friday. 106,738 shares of the company’s stock traded hands, compared to its average volume of 108,131. The company has a market capitalization of $944.87, a price-to-earnings ratio of 16.34 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. Sandy Spring Bancorp has a fifty-two week low of $36.50 and a fifty-two week high of $45.64.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 8th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.04 annualized dividend and a yield of 2.64%. Sandy Spring Bancorp’s dividend payout ratio is currently 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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