Sandy Spring Bancorp (SASR) Issues Earnings Results, Beats Estimates By $0.02 EPS
Sandy Spring Bancorp (NASDAQ:SASR) issued its earnings results on Thursday. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02, Bloomberg Earnings reports. The business had revenue of $55.79 million for the quarter, compared to the consensus estimate of $56.21 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share.
Sandy Spring Bancorp (NASDAQ SASR) traded down $0.22 during trading hours on Thursday, hitting $40.64. 304,800 shares of the company’s stock traded hands, compared to its average volume of 307,691. Sandy Spring Bancorp has a 12-month low of $36.50 and a 12-month high of $45.64. The firm has a market capitalization of $980.38, a P/E ratio of 16.86, a P/E/G ratio of 0.89 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.03.
A number of brokerages recently weighed in on SASR. Zacks Investment Research upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, September 20th. Gabelli began coverage on shares of Sandy Spring Bancorp in a report on Monday, January 8th. They set a “buy” rating and a $50.00 target price on the stock. BidaskClub downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Sandler O’Neill set a $44.00 target price on shares of Sandy Spring Bancorp and gave the stock a “hold” rating in a report on Friday, January 12th. Finally, ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sandy Spring Bancorp presently has an average rating of “Hold” and an average target price of $44.75.
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Sandy Spring Bancorp Company Profile
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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