Sandy Spring Bancorp Inc. (SASR) Expected to Post Quarterly Sales of $82.74 Million
Equities research analysts expect that Sandy Spring Bancorp Inc. (NASDAQ:SASR) will report sales of $82.74 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sandy Spring Bancorp’s earnings. The highest sales estimate is $83.53 million and the lowest is $81.94 million. Sandy Spring Bancorp reported sales of $55.44 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 49.2%. The firm is scheduled to issue its next 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 fiscal year, with estimates ranging from $321.00 million to $328.93 million. For the next fiscal year, analysts anticipate that the business will report sales of $345.83 million, with estimates ranging from $337.83 million to $355.67 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Sandy Spring Bancorp.
Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Thursday, July 19th. The bank reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.12). The company had revenue of $79.86 million for the quarter, compared to analysts’ expectations of $81.12 million. Sandy Spring Bancorp had a net margin of 22.29% and a return on equity of 10.53%. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share.
In other news, Director Mark C. Michael sold 1,735 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $39.54, for a total transaction of $68,601.90. Following the completion of the sale, the director now directly owns 22,000 shares of the company’s stock, valued at $869,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.31% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Sandy Spring Bancorp in the first quarter worth about $111,000. Highlander Capital Management LLC purchased a new stake in Sandy Spring Bancorp in the first quarter worth about $186,000. Hartford Investment Management Co. purchased a new stake in Sandy Spring Bancorp in the second quarter worth about $246,000. Cubist Systematic Strategies LLC purchased a new stake in Sandy Spring Bancorp in the second quarter worth about $264,000. Finally, Trexquant Investment LP purchased a new stake in Sandy Spring Bancorp in the second quarter worth about $347,000. 68.67% of the stock is owned by institutional investors.
Shares of SASR opened at $36.66 on Friday. The firm has a market cap of $1.40 billion, a PE ratio of 14.43, a P/E/G ratio of 1.13 and a beta of 0.68. Sandy Spring Bancorp has a 12-month low of $35.73 and a 12-month high of $43.87. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.07.
About Sandy Spring Bancorp
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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