Boenning Scattergood Research Analysts Lower Earnings Estimates for Sandy Spring Bancorp Inc. (NASDAQ:SASR)

Sandy Spring Bancorp Inc. (NASDAQ:SASR) – Analysts at Boenning Scattergood dropped their Q1 2020 EPS estimates for shares of Sandy Spring Bancorp in a report released on Monday, November 11th. Boenning Scattergood analyst E. Zwick now expects that the bank will post earnings of $0.81 per share for the quarter, down from their prior estimate of $0.82.

A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Sandler O’Neill raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Thursday, September 26th. Finally, Zacks Investment Research downgraded Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $37.06.

SASR opened at $35.10 on Tuesday. Sandy Spring Bancorp has a fifty-two week low of $29.83 and a fifty-two week high of $36.79. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.02. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.15 and a beta of 0.82. The stock has a fifty day moving average of $34.16 and a 200-day moving average of $34.32.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Thursday, October 17th. The bank reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Sandy Spring Bancorp had a return on equity of 10.22% and a net margin of 27.41%. The company had revenue of $85.36 million during the quarter, compared to the consensus estimate of $84.70 million. During the same quarter last year, the firm earned $0.79 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of SASR. BlackRock Inc. lifted its holdings in shares of Sandy Spring Bancorp by 16.6% during the second quarter. BlackRock Inc. now owns 3,436,120 shares of the bank’s stock worth $119,852,000 after buying an additional 488,194 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Sandy Spring Bancorp in the second quarter valued at about $14,713,000. Chartwell Investment Partners LLC raised its stake in Sandy Spring Bancorp by 46.6% in the third quarter. Chartwell Investment Partners LLC now owns 406,610 shares of the bank’s stock valued at $13,707,000 after purchasing an additional 129,275 shares in the last quarter. Wells Fargo & Company MN raised its stake in Sandy Spring Bancorp by 101.8% in the second quarter. Wells Fargo & Company MN now owns 137,332 shares of the bank’s stock valued at $4,790,000 after purchasing an additional 69,279 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Sandy Spring Bancorp by 43.4% in the second quarter. Prudential Financial Inc. now owns 208,468 shares of the bank’s stock valued at $7,272,000 after purchasing an additional 63,063 shares in the last quarter. 70.73% of the stock is owned by institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Tuesday, November 12th. Sandy Spring Bancorp’s dividend payout ratio is currently 41.96%.

Sandy Spring Bancorp Company Profile

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.

See Also: Net Asset Value

Earnings History and Estimates for Sandy Spring Bancorp (NASDAQ:SASR)

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