Sandy Spring Bancorp Inc. (SASR) Expected to Post Quarterly Sales of $80.21 Million

Equities analysts expect that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will report $80.21 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings. The highest sales estimate is $82.40 million and the lowest is $78.01 million. Sandy Spring Bancorp reported sales of $52.89 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 51.7%. The company is scheduled to announce its next earnings report on Thursday, April 19th.

On average, analysts expect that Sandy Spring Bancorp will report full-year sales of $80.21 million for the current financial year, with estimates ranging from $326.10 million to $339.41 million. For the next fiscal year, analysts expect that the firm will post sales of $360.24 million per share, with estimates ranging from $352.74 million to $366.99 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Sandy Spring Bancorp had a return on equity of 10.91% and a net margin of 21.63%. The business had revenue of $55.79 million for the quarter, compared to analysts’ expectations of $56.21 million. During the same period in the prior year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis.

Several analysts recently commented on SASR shares. Sandler O’Neill set a $44.00 target price on Sandy Spring Bancorp and gave the company a “hold” rating in a research report on Friday, January 12th. Gabelli started coverage on Sandy Spring Bancorp in a research report on Monday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Zacks Investment Research upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, December 23rd. Boenning Scattergood restated a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, October 20th. Finally, BidaskClub upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.75.

Shares of Sandy Spring Bancorp (SASR) opened at $38.33 on Thursday. Sandy Spring Bancorp has a 1 year low of $36.41 and a 1 year high of $45.64. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $890.40, a P/E ratio of 17.42, a P/E/G ratio of 0.96 and a beta of 0.93.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio is currently 47.27%.

In other Sandy Spring Bancorp news, EVP Ronda M. Mcdowell sold 1,872 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $37.95, for a total transaction of $71,042.40. Following the completion of the transaction, the executive vice president now directly owns 5,090 shares of the company’s stock, valued at approximately $193,165.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joe Reeder sold 1,538 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $38.63, for a total value of $59,412.94. Following the transaction, the director now directly owns 154,473 shares of the company’s stock, valued at $5,967,291.99. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,956 shares of company stock worth $469,219. 2.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Sandy Spring Bancorp by 4.6% during the 4th quarter. BlackRock Inc. now owns 2,156,143 shares of the bank’s stock valued at $84,134,000 after purchasing an additional 95,615 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sandy Spring Bancorp by 2.0% during the 3rd 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 in the last quarter. Vanguard Group Inc. boosted its stake in Sandy Spring Bancorp by 1.0% during the 2nd 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 in the last quarter. Ameriprise Financial Inc. boosted its stake in Sandy Spring Bancorp by 2.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 944,418 shares of the bank’s stock valued at $39,137,000 after purchasing an additional 25,663 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its stake in Sandy Spring Bancorp by 6.1% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 648,668 shares of the bank’s stock valued at $25,311,000 after purchasing an additional 37,386 shares in the last quarter. 70.84% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Sandy Spring Bancorp Inc. (SASR) Expected to Post Quarterly Sales of $80.21 Million” was posted by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.americanbankingnews.com/2018/02/15/sandy-spring-bancorp-inc-sasr-expected-to-post-quarterly-sales-of-80-21-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

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

Leave a Reply