Sandy Spring Bancorp, Inc. (NASDAQ:SASR - Free Report) - Analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Sandy Spring Bancorp in a research note issued on Tuesday, April 30th. DA Davidson analyst M. Navas expects that the bank will earn $0.45 per share for the quarter. The consensus estimate for Sandy Spring Bancorp's current full-year earnings is $2.03 per share. DA Davidson also issued estimates for Sandy Spring Bancorp's FY2025 earnings at $2.85 EPS.
Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.03. The firm had revenue of $184.38 million for the quarter, compared to analyst estimates of $97.45 million. Sandy Spring Bancorp had a net margin of 12.74% and a return on equity of 6.69%. During the same quarter in the prior year, the firm earned $1.16 EPS.
Several other research analysts have also weighed in on SASR. 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. Janney Montgomery Scott began coverage on shares of Sandy Spring Bancorp in a report on Friday, March 1st. They set a "neutral" rating and a $25.00 target price on the stock. Finally, StockNews.com downgraded shares of Sandy Spring Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $23.50.
View Our Latest Stock Report on SASR
Sandy Spring Bancorp Trading Up 3.4 %
Shares of NASDAQ SASR traded up $0.70 during mid-day trading on Wednesday, hitting $21.15. The company's stock had a trading volume of 254,874 shares, compared to its average volume of 299,879. The stock has a market cap of $951.75 million, a price-to-earnings ratio of 10.22 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 one year low of $19.27 and a one year high of $27.90. The company's fifty day simple moving average is $21.50 and its 200-day simple moving average is $22.96.
Sandy Spring Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.43%. Sandy Spring Bancorp's payout ratio is presently 66.67%.
Institutional Investors Weigh In On Sandy Spring Bancorp
A number of institutional investors have recently modified their holdings of SASR. Vanguard Group Inc. raised its stake in Sandy Spring Bancorp by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,628,937 shares of the bank's stock valued at $56,338,000 after purchasing an additional 12,576 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sandy Spring Bancorp by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,240,530 shares of the bank's stock worth $61,033,000 after acquiring an additional 52,454 shares in the last quarter. Invesco Ltd. raised its stake in Sandy Spring Bancorp by 4.8% during the third quarter. Invesco Ltd. now owns 1,432,995 shares of the bank's stock worth $30,709,000 after acquiring an additional 65,841 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Sandy Spring Bancorp by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 854,774 shares of the bank's stock worth $23,284,000 after acquiring an additional 4,855 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Sandy Spring Bancorp by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,628 shares of the bank's stock worth $15,816,000 after acquiring an additional 40,374 shares in the last quarter. Institutional investors own 66.90% of the company's stock.
About Sandy Spring Bancorp
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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.
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