Analysts Expect Sandy Spring Bancorp, Inc. (NASDAQ:SASR) to Post $1.00 EPS

Wall Street brokerages forecast that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will report earnings per share of $1.00 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sandy Spring Bancorp’s earnings. The lowest EPS estimate is $0.97 and the highest is $1.03. Sandy Spring Bancorp reported earnings of $0.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 257.1%. The business is expected to issue its next quarterly earnings report on Thursday, April 22nd.

According to Zacks, analysts expect that Sandy Spring Bancorp will report full year earnings of $3.59 per share for the current fiscal year, with EPS estimates ranging from $3.40 to $3.80. For the next financial year, analysts anticipate that the firm will report earnings of $3.57 per share, with EPS estimates ranging from $3.37 to $3.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Wednesday, January 20th. The bank reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.26. Sandy Spring Bancorp had a return on equity of 7.29% and a net margin of 14.12%. The business had revenue of $132.06 million for the quarter, compared to analysts’ expectations of $124.62 million.

A number of analysts recently weighed in on the company. Piper Sandler upgraded Sandy Spring Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $34.00 to $41.00 in a research report on Monday, January 25th. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 5th. G.Research lowered shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, December 9th. Finally, Gabelli downgraded shares of Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Sandy Spring Bancorp presently has an average rating of “Hold” and a consensus price target of $35.00.

A number of institutional investors have recently made changes to their positions in SASR. Annapolis Financial Services LLC purchased a new stake in shares of Sandy Spring Bancorp during the fourth quarter worth about $32,000. Schroder Investment Management Group purchased a new stake in Sandy Spring Bancorp in the 4th quarter worth approximately $38,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $206,000. AE Wealth Management LLC bought a new stake in shares of Sandy Spring Bancorp in the 4th quarter worth approximately $216,000. Finally, Jane Street Group LLC purchased a new position in shares of Sandy Spring Bancorp during the fourth quarter valued at approximately $226,000. 60.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sandy Spring Bancorp stock traded up $0.27 during trading on Thursday, hitting $43.22. 4,132 shares of the stock traded hands, compared to its average volume of 184,017. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 3.01 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.47. Sandy Spring Bancorp has a 52 week low of $18.79 and a 52 week high of $44.81. The firm’s fifty day moving average is $41.17 and its 200-day moving average is $32.86.

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 24th. Investors of record on Wednesday, February 17th were issued a dividend of $0.32 per share. This is a positive change from Sandy Spring Bancorp’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Tuesday, February 16th. Sandy Spring Bancorp’s dividend payout ratio is currently 39.02%.

About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking, retail banking, and trust services to individuals and businesses. It operates through the following segments: Community Banking, Insurance, and Investment Management. The Community Banking segment conducts its operations through Sandy Spring Bank and involves delivering financial products and services, including various loan and deposit products to both individuals and businesses.

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Earnings History and Estimates for Sandy Spring Bancorp (NASDAQ:SASR)

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