DA Davidson Has Pessimistic Outlook of SASR FY2025 Earnings

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities research analysts at DA Davidson dropped their FY2025 EPS estimates for Sandy Spring Bancorp in a report issued on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will earn $2.50 per share for the year, down from their prior forecast of $2.65. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.85 per share.

Separately, StockNews.com started coverage on Sandy Spring Bancorp in a research report on Wednesday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.25.

Sandy Spring Bancorp Price Performance

Shares of SASR opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.54 billion, a P/E ratio of 17.89 and a beta of 0.96. The business’s 50-day moving average is $35.73 and its two-hundred day moving average is $30.88. Sandy Spring Bancorp has a fifty-two week low of $19.52 and a fifty-two week high of $39.55.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The company had revenue of $189.81 million for the quarter, compared to analyst estimates of $101.60 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in Sandy Spring Bancorp by 93.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock valued at $41,235,000 after acquiring an additional 615,591 shares during the period. Geode Capital Management LLC increased its position in shares of Sandy Spring Bancorp by 3.4% during the third quarter. Geode Capital Management LLC now owns 1,072,619 shares of the bank’s stock worth $33,654,000 after purchasing an additional 35,271 shares in the last quarter. Barclays PLC boosted its holdings in shares of Sandy Spring Bancorp by 36.8% in the third quarter. Barclays PLC now owns 119,799 shares of the bank’s stock valued at $3,759,000 after acquiring an additional 32,223 shares during the period. Wellington Management Group LLP increased its stake in Sandy Spring Bancorp by 17.4% in the third quarter. Wellington Management Group LLP now owns 819,475 shares of the bank’s stock valued at $25,707,000 after purchasing an additional 121,574 shares during the period. Finally, Stifel Financial Corp acquired a new stake in shares of Sandy Spring Bancorp during the third quarter worth $217,000. 66.90% of the stock is currently owned by hedge funds and other institutional investors.

Sandy Spring Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.36 annualized dividend and a dividend yield of 4.00%. Sandy Spring Bancorp’s payout ratio is 71.58%.

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.