Sandy Spring Bancorp Inc. to Post FY2017 Earnings of $2.29 Per Share, Boenning Scattergood Forecasts (SASR)
Sandy Spring Bancorp Inc. (NASDAQ:SASR) – Equities research analysts at Boenning Scattergood raised their FY2017 earnings per share (EPS) estimates for Sandy Spring Bancorp in a research note issued to investors on Tuesday. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings of $2.29 per share for the year, up from their previous forecast of $2.23. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Sandy Spring Bancorp’s Q4 2017 earnings at $0.42 EPS.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Sandy Spring Bancorp had a return on equity of 10.61% and a net margin of 24.31%. The firm had revenue of $55.44 million during the quarter, compared to analysts’ expectations of $58.34 million. During the same quarter in the previous year, the company posted $0.56 earnings per share.
Sandy Spring Bancorp (NASDAQ SASR) opened at $39.78 on Thursday. Sandy Spring Bancorp has a fifty-two week low of $36.50 and a fifty-two 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 stock has a market capitalization of $954.46, a PE ratio of 16.51 and a beta of 0.99.
A number of hedge funds have recently modified their holdings of SASR. Bronfman E.L. Rothschild L.P. purchased a new stake in Sandy Spring Bancorp during the 2nd quarter valued at about $133,000. KBC Group NV purchased a new stake in Sandy Spring Bancorp during the 3rd quarter valued at about $139,000. BNP Paribas Arbitrage SA boosted its holdings in Sandy Spring Bancorp by 554.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,586 shares of the bank’s stock valued at $146,000 after acquiring an additional 3,038 shares during the period. Court Place Advisors LLC purchased a new stake in Sandy Spring Bancorp during the 3rd quarter valued at about $200,000. Finally, Magnetar Financial LLC purchased a new stake in Sandy Spring Bancorp during the 3rd quarter valued at about $203,000. Institutional investors own 70.37% of the company’s stock.
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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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