Wall Street analysts forecast that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will report sales of $81.11 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sandy Spring Bancorp’s earnings, with estimates ranging from $81.08 million to $81.13 million. Sandy Spring Bancorp reported sales of $80.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The company is scheduled to report its next earnings report on Thursday, April 18th.
According to Zacks, analysts expect that Sandy Spring Bancorp will report full-year sales of $335.77 million for the current year, with estimates ranging from $333.60 million to $339.00 million. For the next year, analysts expect that the company will post sales of $358.53 million, with estimates ranging from $352.68 million to $367.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, January 17th. The bank reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). The firm had revenue of $80.18 million for the quarter, compared to the consensus estimate of $81.94 million. Sandy Spring Bancorp had a net margin of 26.19% and a return on equity of 10.00%. During the same quarter in the previous year, the business earned $0.34 earnings per share.
In related news, Director Mark E. Friis bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was bought at an average cost of $31.86 per share, with a total value of $31,860.00. Following the completion of the purchase, the director now owns 11,235 shares of the company’s stock, valued at approximately $357,947.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronda M. Mcdowell sold 744 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $35.02, for a total transaction of $26,054.88. Following the transaction, the executive vice president now directly owns 6,034 shares of the company’s stock, valued at $211,310.68. The disclosure for this sale can be found here. Company insiders own 2.09% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC purchased a new position in shares of Sandy Spring Bancorp in the 4th quarter worth $47,000. Advisory Services Network LLC grew its stake in shares of Sandy Spring Bancorp by 87.7% in the 4th quarter. Advisory Services Network LLC now owns 1,520 shares of the bank’s stock worth $48,000 after buying an additional 710 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Sandy Spring Bancorp in the 3rd quarter worth $170,000. First Republic Investment Management Inc. purchased a new position in shares of Sandy Spring Bancorp in the 3rd quarter worth $215,000. Finally, Citigroup Inc. grew its stake in shares of Sandy Spring Bancorp by 11.0% in the 4th quarter. Citigroup Inc. now owns 6,917 shares of the bank’s stock worth $217,000 after buying an additional 685 shares in the last quarter. 69.50% of the stock is owned by institutional investors.
Shares of SASR stock traded up $0.63 on Monday, hitting $31.91. 114,300 shares of the stock traded hands, compared to its average volume of 135,458. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.16 and a beta of 0.77. Sandy Spring Bancorp has a 52 week low of $29.83 and a 52 week high of $43.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.06 and a quick ratio of 1.06.
About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial banking 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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