Sandy Spring Bancorp (NASDAQ:SASR) Issues Earnings Results

Sandy Spring Bancorp (NASDAQ:SASR) issued its quarterly earnings data on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03, Briefing.com reports. Sandy Spring Bancorp had a return on equity of 6.69% and a net margin of 12.74%. The business had revenue of $184.38 million during the quarter, compared to analysts’ expectations of $97.45 million. During the same quarter in the previous year, the firm posted $1.16 EPS.

Sandy Spring Bancorp Stock Performance

Sandy Spring Bancorp stock opened at $21.50 on Thursday. The firm’s 50 day simple moving average is $21.64 and its 200-day simple moving average is $22.94. The company has a market cap of $967.50 million, a P/E ratio of 10.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.06. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $27.90.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.33%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

Several research firms have commented on SASR. Stephens reiterated an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a research note on Friday, March 1st. They set a “neutral” rating and a $25.00 price target on the stock. Finally, StockNews.com raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 18th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

About Sandy Spring Bancorp

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.