Brokers Issue Forecasts for Sandy Spring Bancorp, Inc.’s Q3 2024 Earnings (NASDAQ:SASR)

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Research analysts at DA Davidson issued their Q3 2024 earnings per share estimates for shares of Sandy Spring Bancorp in a note issued to investors on Thursday, July 25th. DA Davidson analyst M. Navas expects that the bank will earn $0.48 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $33.00 price objective on the stock. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.93 per share. DA Davidson also issued estimates for Sandy Spring Bancorp’s FY2025 earnings at $2.75 EPS.

Sandy Spring Bancorp (NASDAQ:SASR) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The company 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 period in the prior year, the firm earned $0.60 earnings per share.

A number of other analysts have also weighed in on the company. Stephens restated an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, StockNews.com upgraded Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.00.

Sandy Spring Bancorp Price Performance

Shares of SASR opened at $30.92 on Friday. The stock has a market capitalization of $1.39 billion, a PE ratio of 15.16 and a beta of 0.97. The company has a 50 day moving average price of $24.53 and a 200-day moving average price of $23.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.02 and a current ratio of 1.03. Sandy Spring Bancorp has a fifty-two week low of $19.27 and a fifty-two week high of $31.71.

Institutional Trading of Sandy Spring Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in SASR. Bank of New York Mellon Corp increased its position in Sandy Spring Bancorp by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 384,726 shares of the bank’s stock valued at $9,372,000 after buying an additional 5,324 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Sandy Spring Bancorp during the second quarter worth about $144,000. Chevy Chase Trust Holdings LLC increased its holdings in shares of Sandy Spring Bancorp by 3.5% during the second quarter. Chevy Chase Trust Holdings LLC now owns 107,195 shares of the bank’s stock valued at $2,611,000 after acquiring an additional 3,633 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Sandy Spring Bancorp by 36.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,050 shares of the bank’s stock valued at $513,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Sandy Spring Bancorp by 69.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after purchasing an additional 60,850 shares in the last quarter. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

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.