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

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

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $32.04 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $31.28 and its two-hundred day moving average is $26.70. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $34.19. The company has a market capitalization of $1.45 billion, a PE ratio of 16.02 and a beta of 0.95.

Sandy Spring Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.24%. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 68.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SASR shares. DA Davidson raised their price objective on Sandy Spring Bancorp from $23.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

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.