Sandy Spring Bancorp (NASDAQ:SASR) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR) announced its earnings results on Tuesday. The bank reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03, Briefing.com reports. Sandy Spring Bancorp had a net margin of 17.43% and a return on equity of 8.66%. The company had revenue of $184.38 million during the quarter, compared to the consensus estimate of $97.45 million. During the same quarter in the prior year, the company posted $1.16 earnings per share.

Sandy Spring Bancorp Price Performance

SASR opened at $21.92 on Wednesday. The firm has a 50-day moving average price of $21.64 and a 200-day moving average price of $22.94. Sandy Spring Bancorp has a twelve month low of $19.27 and a twelve month high of $27.90. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $986.40 million, a price-to-earnings ratio of 8.03 and a beta of 0.94.

Sandy Spring Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Tuesday, February 13th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 49.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Janney Montgomery Scott began coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Stephens decreased their target price on Sandy Spring Bancorp from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.00.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.