Wall Street brokerages expect that Sandy Spring Bancorp, Inc. (NASDAQ:SASR) will report $125.07 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Sandy Spring Bancorp's earnings. The lowest sales estimate is $124.73 million and the highest is $125.40 million. Sandy Spring Bancorp reported sales of $84.81 million in the same quarter last year, which indicates a positive year over year growth rate of 47.5%. The business is expected to report its next earnings report before the market opens on Thursday, January 21st.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full year sales of $455.20 million for the current year, with estimates ranging from $448.00 million to $462.20 million. For the next financial year, analysts forecast that the business will post sales of $474.29 million, with estimates ranging from $464.00 million to $481.67 million. Zacks' sales averages are an average based on a survey of analysts that follow Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.94 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.71 by $0.23. Sandy Spring Bancorp had a net margin of 11.88% and a return on equity of 6.35%. The company had revenue of $126.87 million during the quarter, compared to analyst estimates of $120.09 million.
SASR has been the subject of several research reports. Zacks Investment Research lowered shares of Sandy Spring Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, January 5th. Gabelli lowered shares of Sandy Spring Bancorp from a "buy" rating to a "hold" rating in a research report on Wednesday, December 9th. TheStreet raised shares of Sandy Spring Bancorp from a "c" rating to a "b-" rating in a research report on Friday, October 23rd. Finally, G.Research lowered shares of Sandy Spring Bancorp from a "buy" rating to a "hold" rating in a research report on Wednesday, December 9th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of "Hold" and an average target price of $30.50.
NASDAQ:SASR opened at $36.39 on Friday. Sandy Spring Bancorp has a twelve month low of $18.00 and a twelve month high of $37.25. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $32.31 and a 200-day moving average of $26.63. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 3.58 and a beta of 1.08.
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Sandy Spring Bancorp by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 309,622 shares of the bank's stock worth $7,672,000 after buying an additional 12,821 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sandy Spring Bancorp by 31.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,482,436 shares of the bank's stock worth $61,516,000 after buying an additional 599,088 shares during the period. Bank of America Corp DE grew its position in shares of Sandy Spring Bancorp by 0.7% during the 2nd quarter. Bank of America Corp DE now owns 294,950 shares of the bank's stock worth $7,309,000 after buying an additional 1,993 shares during the period. Glenmede Trust Co. NA grew its position in shares of Sandy Spring Bancorp by 1,525.6% during the 2nd quarter. Glenmede Trust Co. NA now owns 3,804 shares of the bank's stock worth $94,000 after buying an additional 3,570 shares during the period. Finally, Sei Investments Co. grew its position in shares of Sandy Spring Bancorp by 428.6% during the 2nd quarter. Sei Investments Co. now owns 68,279 shares of the bank's stock worth $1,692,000 after buying an additional 55,363 shares during the period. 62.41% of the stock is currently owned by institutional investors.
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 central Maryland, Northern Virginia, and Washington DC The company operates in three segments: Community Banking, Insurance, and Investment Management.
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