Sandy Spring Bancorp (NASDAQ:SASR) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Sandy Spring Bancorp (NASDAQ:SASR) released its earnings results on Tuesday. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08, Briefing.com reports. The firm had revenue of $184.70 million during the quarter, compared to analyst estimates of $99.60 million. Sandy Spring Bancorp had a net margin of 12.31% and a return on equity of 6.44%. During the same quarter last year, the business earned $0.60 EPS.

Sandy Spring Bancorp Stock Up 3.2 %

Shares of NASDAQ:SASR traded up $0.96 during trading hours on Thursday, hitting $31.22. The company’s stock had a trading volume of 364,727 shares, compared to its average volume of 300,906. Sandy Spring Bancorp has a 52 week low of $19.27 and a 52 week high of $31.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.25 and a beta of 0.97. The firm’s fifty day moving average price is $24.39 and its 200 day moving average price is $23.26.

Analysts Set New Price Targets

SASR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday. Stephens reiterated an “equal weight” rating and set a $25.00 price objective on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. DA Davidson lifted their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Finally, StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus target price of $27.00.

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.