Sandy Spring Bancorp (NASDAQ:SASR) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Sandy Spring Bancorp (NASDAQ:SASR) announced its quarterly earnings results on Tuesday. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08, Briefing.com reports. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.65%. The company had revenue of $184.70 million for the quarter, compared to analysts’ expectations of $99.60 million. During the same quarter in the previous year, the company earned $0.60 earnings per share.

Sandy Spring Bancorp Stock Down 1.1 %

NASDAQ:SASR traded down $0.35 during mid-day trading on Wednesday, hitting $30.80. 165,001 shares of the company’s stock were exchanged, compared to its average volume of 299,301. Sandy Spring Bancorp has a one year low of $19.27 and a one year high of $31.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.03 and a quick ratio of 1.02. The business has a fifty day moving average price of $24.25 and a 200 day moving average price of $23.21. The company has a market cap of $1.39 billion, a PE ratio of 15.18 and a beta of 0.97.

Sandy Spring Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 8th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, May 7th. Sandy Spring Bancorp’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Stephens reissued an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.