Sandy Spring Bancorp (SASR) Scheduled to Post Earnings on Monday
Sandy Spring Bancorp (NASDAQ:SASR) is set to announce its quarterly earnings results before the market opens on Monday, October 21st. Analysts anticipate that the company will report earnings of $0.47 per share for the quarter.
In its previous earnings announcement on Tuesday, July 23rd, Sandy Spring Bancorp posted earnings of $0.51 per share, exceeding analysts’ estimates of $0.43 by $0.08. The company reported revenue of $184.70 million for that quarter, which was significantly higher than the forecasted $99.60 million. During this period, the bank achieved a return on equity of 6.41% and a net margin of 12.31%. In the same quarter last year, the company’s earnings per share were recorded at $0.60. Moving forward, analysts project that Sandy Spring Bancorp will post earnings of $2 per share for the current fiscal year and $3 per share for the fiscal year following.
Sandy Spring Bancorp Stock Performance
Sandy Spring Bancorp stock opened at $31.90. The bank has a debt-to-equity ratio of 0.54, a current ratio of 1.03, and a quick ratio of 1.02. The 50-day simple moving average stands at $30.62, while the 200-day simple moving average is at $26.18. The company boasts a market capitalization of $1.44 billion, a P/E ratio of 15.95, and a beta of 0.95. Over the last year, Sandy Spring Bancorp’s stock hit a low of $19.27 and a high of $34.19.
Dividend Announcement
Recently, Sandy Spring Bancorp declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders who were on record as of Wednesday, August 14th, received a dividend payment of $0.34. This dividend represents an annualized figure of $1.36 and a yield of 4.26%. Currently, the dividend payout ratio stands at 68.00%.
Analyst Ratings and Price Targets
In recent evaluations, several analysts reviewed Sandy Spring Bancorp’s stock. StockNews.com downgraded the company’s rating from “hold” to “sell” on August 27th. Meanwhile, Keefe, Bruyette & Woods increased their price target for the stock from $25.00 to $30.00, assigning a “market perform” rating on July 25th. On the same day, DA Davidson also raised their price target from $23.00 to $33.00 while giving the company a “neutral” rating. At present, one analyst rates the stock as a sell, while five analysts categorize it as a hold. According to MarketBeat’s data, Sandy Spring Bancorp currently holds a consensus rating of “Hold” along with a consensus price target of $27.00.
Company Overview
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank. It offers a variety of services including commercial and retail banking, mortgage, private banking, and trust services to both individuals and businesses throughout the United States. The company provides a comprehensive range of financial products and services, encompassing various loan and deposit options.
