Sandy Spring Bancorp (NASDAQ:SASR) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Monday. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06), Briefing.com reports. The firm had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.41%. During the same quarter in the prior year, the business earned $0.62 earnings per share.

Sandy Spring Bancorp Stock Down 2.5 %

Sandy Spring Bancorp stock opened at $31.78 on Tuesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 15.89 and a beta of 0.95. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $31.13 and its two-hundred day moving average price is $26.55. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $34.19.

Sandy Spring Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.36 annualized dividend and a yield of 4.28%. Sandy Spring Bancorp’s payout ratio is 68.00%.

Analyst Upgrades and Downgrades

SASR has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. DA Davidson lifted their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

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.