Equities Analysts Issue Forecasts for SASR FY2024 Earnings

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities researchers at DA Davidson dropped their FY2024 earnings estimates for Sandy Spring Bancorp in a research report issued to clients and investors on Wednesday, October 23rd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $1.80 per share for the year, down from their previous estimate of $1.95. DA Davidson 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 Q4 2024 earnings at $0.49 EPS.

Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.74% and a net margin of 11.54%. During the same quarter in the previous year, the firm earned $0.62 earnings per share.

Several other analysts also recently issued reports on SASR. StockNews.com downgraded Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Keefe, Bruyette & Woods boosted their price target 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, July 25th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.00.

Sandy Spring Bancorp Trading Up 0.8 %

Shares of NASDAQ SASR opened at $32.62 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. Sandy Spring Bancorp has a 12 month low of $19.27 and a 12 month high of $34.19. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 15.99 and a beta of 0.95. The business has a fifty day simple moving average of $31.45 and a 200-day simple moving average of $26.78.

Hedge Funds Weigh In On Sandy Spring Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new stake in shares of Sandy Spring Bancorp during the 1st quarter worth $98,000. Hantz Financial Services Inc. bought a new stake in Sandy Spring Bancorp during the second quarter valued at about $105,000. Meeder Asset Management Inc. acquired a new stake in shares of Sandy Spring Bancorp in the second quarter valued at about $117,000. SG Americas Securities LLC bought a new position in shares of Sandy Spring Bancorp in the first quarter worth about $122,000. Finally, CWM LLC lifted its position in shares of Sandy Spring Bancorp by 59.4% during the 2nd quarter. CWM LLC now owns 5,561 shares of the bank’s stock worth $135,000 after purchasing an additional 2,073 shares during the last quarter. Institutional investors and hedge funds own 66.90% of the company’s stock.

Sandy Spring Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio is 66.67%.

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.