Sandy Spring Bancorp (NASDAQ:SASR) Releases Earnings Results, Beats Estimates By $0.03 EPS

Sandy Spring Bancorp (NASDAQ:SASR - Get Free Report) issued its quarterly earnings results on Tuesday. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.03, Briefing.com reports. The company had revenue of $184.38 million for the quarter, compared to the consensus estimate of $97.45 million. Sandy Spring Bancorp had a return on equity of 8.66% and a net margin of 17.43%. During the same quarter in the prior year, the business posted $1.16 earnings per share.

Sandy Spring Bancorp Trading Down 1.9 %

SASR stock traded down $0.41 during midday trading on Wednesday, hitting $21.50. 470,919 shares of the company's stock were exchanged, compared to its average volume of 302,645. The business has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $22.94. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $967.41 million, a PE ratio of 7.88 and a beta of 0.94. Sandy Spring Bancorp has a 1-year low of $19.27 and a 1-year high of $27.90.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.36 annualized dividend and a yield of 6.33%. Sandy Spring Bancorp's dividend payout ratio (DPR) is 49.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SASR shares. StockNews.com upgraded Sandy Spring Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, January 18th. Janney Montgomery Scott started coverage on Sandy Spring Bancorp in a research report on Friday, March 1st. They issued a "neutral" rating and a $25.00 target price on the stock. Finally, Stephens restated an "equal weight" rating and issued a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Sandy Spring Bancorp 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.