Wall Street brokerages expect Sandy Spring Bancorp, Inc. (NASDAQ: SASR) to post revenue of $ 131.67 million for the current quarter, according to Zacks investment research. Two analysts have provided earnings estimates for Sandy Spring Bancorp. The highest sales estimate is $ 132.40 million and the lowest is $ 130.94 million. Sandy Spring Bancorp reported sales of $ 132.06 million in the same quarter last year, suggesting a negative growth rate of 0.3% year-over-year. The company is expected to release its next results on Thursday, January 20.
On average, analysts expect Sandy Spring Bancorp to report annual revenue of $ 533.19 million for the current year, with estimates ranging from $ 532.37 million to $ 534.00. millions of dollars. For the next fiscal year, analysts predict the company will post sales of $ 498.74 million, with estimates ranging from $ 493.58 million to $ 503.90 million. Zacks’ sales calculations are an average based on a survey of research companies that cover Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ: SASR) last reported its results on Wednesday, October 20. The bank reported earnings per share (EPS) of $ 1.20 for the quarter, beating the consensus estimate of $ 1.10 by $ 0.10. Sandy Spring Bancorp had a net margin of 43.70% and a return on equity of 13.94%. The company reported revenue of $ 131.00 million for the quarter, compared to a consensus estimate of $ 131.96 million. During the same period of the previous year, the company achieved EPS of $ 0.97. The company’s revenue grew 3.3% year-over-year.
Separately, Zacks investment research downgraded Sandy Spring Bancorp shares from a “buy” rating to a “custody” rating in a research note on Tuesday, October 26.
In other Sandy Spring Bancorp news, executive vice president Kenneth C. Cook sold 2,531 shares of the company in a transaction dated Wednesday, November 10. The shares were sold at an average price of $ 50.44, for a total trade of $ 127,663.64. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible via the SEC website. Also, EVP Kenneth C. Cook sold 13,500 shares in a transaction dated Tuesday, October 26. The shares were sold at an average price of $ 48.27, for a total trade of $ 651,645.00. Disclosure of this sale can be found here. Company insiders own 3.05% of the company’s shares.
Several hedge funds and other institutional investors have recently bought and sold shares of SASR. Captrust Financial Advisors acquired a new stake in shares of Sandy Spring Bancorp in the first quarter valued at approximately $ 28,000. Parallel Advisors LLC increased its equity stake in Sandy Spring Bancorp by 59.2% in the second quarter. Parallel Advisors LLC now owns 844 shares of the bank valued at $ 37,000 after purchasing an additional 314 shares in the last quarter. Eaton Vance Management acquired a new stake in the shares of Sandy Spring Bancorp in the first quarter valued at approximately $ 43,000. Berman Capital Advisors LLC increased its equity stake in Sandy Spring Bancorp by 100.0% in the second quarter. Berman Capital Advisors LLC now owns 1,448 shares of the bank valued at $ 63,000 after purchasing an additional 724 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in the shares of Sandy Spring Bancorp in the second quarter valued at approximately $ 101,000. 64.40% of the shares are held by institutional investors.
The NASDAQ SASR opened at $ 48.28 on Monday. Sandy Spring Bancorp has a one-year low at $ 30.54 and a one-year high at $ 51.31. The company has a current ratio of 0.96, a quick ratio of 0.96, and a debt ratio of 0.11. The company has a market cap of $ 2.20 billion, a PE ratio of 9.36 and a beta of 1.11. The company’s fifty-day simple moving average is $ 48.38 and its 200-day simple moving average is $ 45.33.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 17. Investors of record on Wednesday, November 10 received a dividend of $ 0.32. This represents a dividend of $ 1.28 on an annualized basis and a return of 2.65%. The ex-dividend date of this dividend was Tuesday, November 9. Sandy Spring Bancorp’s dividend payout ratio is currently 24.81%.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is a banking holding company providing commercial, retail and trust banking services to individuals and businesses. It operates in the following segments: community banking, insurance and investment management. The Community Banking segment operates through Sandy Spring Bank and consists of providing financial products and services, including various loan and deposit products to individuals and businesses.
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