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.
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.
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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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