Sandy Spring Bancorp (NASDAQ:SASR) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Sandy Spring Bancorp (NASDAQ:SASR) released its earnings results on Tuesday. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08, Briefing.com reports. Sandy Spring Bancorp had a return on equity of 6.44% and a net margin of 12.31%. The firm had revenue of $184.70 million for the quarter, compared to analyst estimates of $99.60 million. During the same quarter last year, the firm posted $0.60 EPS.

Sandy Spring Bancorp Price Performance

Shares of Sandy Spring Bancorp stock traded up $0.91 during trading on Thursday, hitting $31.17. 118,546 shares of the company’s stock traded hands, compared to its average volume of 299,172. Sandy Spring Bancorp has a twelve month low of $19.27 and a twelve month high of $31.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market cap of $1.40 billion, a PE ratio of 15.25 and a beta of 0.97. The firm’s fifty day moving average price is $24.39 and its 200 day moving average price is $23.26.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SASR. StockNews.com lowered shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. DA Davidson upped their price objective on shares of Sandy Spring Bancorp from $23.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens reissued an “equal weight” rating and set a $25.00 target price on shares of Sandy Spring Bancorp in a research report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods upped their price target on Sandy Spring Bancorp from $25.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.00.

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.