Analysts Expect Sandy Spring Bancorp Inc. (SASR) Will Announce Quarterly Sales of $82.74 Million

Brokerages expect Sandy Spring Bancorp Inc. (NASDAQ:SASR) to report sales of $82.74 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings, with estimates ranging from $81.94 million to $83.53 million. Sandy Spring Bancorp posted sales of $55.44 million in the same quarter last year, which suggests a positive year-over-year growth rate of 49.2%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 18th.

On average, analysts expect that Sandy Spring Bancorp will report full-year sales of $324.33 million for the current year, with estimates ranging from $321.00 million to $328.93 million. For the next financial year, analysts forecast that the company will report sales of $345.83 million, with estimates ranging from $337.83 million to $355.67 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Sandy Spring Bancorp.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.12). The company had revenue of $79.86 million during the quarter, compared to analysts’ expectations of $81.12 million. Sandy Spring Bancorp had a return on equity of 10.53% and a net margin of 22.29%. The company’s quarterly revenue was up 41.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS.

Several research analysts recently commented on SASR shares. BidaskClub raised shares of Sandy Spring Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 8th. ValuEngine downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, Sandler O’Neill raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Sandy Spring Bancorp has a consensus rating of “Hold” and a consensus target price of $46.20.

In other Sandy Spring Bancorp news, Director Mark C. Michael sold 1,735 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $39.54, for a total transaction of $68,601.90. Following the transaction, the director now directly owns 22,000 shares in the company, valued at approximately $869,880. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.31% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. MainStreet Investment Advisors LLC bought a new position in Sandy Spring Bancorp during the 3rd quarter worth about $362,000. Dalton Greiner Hartman Maher & Co. grew its holdings in Sandy Spring Bancorp by 5.1% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 751,619 shares of the bank’s stock worth $29,546,000 after acquiring an additional 36,618 shares in the last quarter. Northern Trust Corp grew its holdings in Sandy Spring Bancorp by 4.3% during the 2nd quarter. Northern Trust Corp now owns 671,546 shares of the bank’s stock worth $27,540,000 after acquiring an additional 27,846 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Sandy Spring Bancorp by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,340 shares of the bank’s stock worth $9,857,000 after acquiring an additional 2,495 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Sandy Spring Bancorp by 193.4% during the 2nd quarter. Millennium Management LLC now owns 540,781 shares of the bank’s stock worth $22,177,000 after acquiring an additional 356,477 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

SASR stock traded down $0.20 during trading on Friday, hitting $37.25. The company had a trading volume of 200,100 shares, compared to its average volume of 168,101. The company has a market capitalization of $1.40 billion, a PE ratio of 14.70, a P/E/G ratio of 1.13 and a beta of 0.68. Sandy Spring Bancorp has a 52-week low of $35.73 and a 52-week high of $43.87. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.09 and a quick ratio of 1.08.

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 markets. It operates through three segments: Community Banking, Insurance, and Investment Management.

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