DA Davidson Issues Pessimistic Estimate for SASR Earnings

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities researchers at DA Davidson dropped their FY2024 earnings per share (EPS) 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 per share of $1.80 for the year, down from their previous forecast of $1.95. DA Davidson currently has a “Neutral” rating and a $33.00 target price 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.

SASR has been the subject of a number of other research reports. StockNews.com downgraded shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Keefe, Bruyette & Woods upped their price target on shares of Sandy Spring Bancorp from $25.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Sandy Spring Bancorp has an average rating of “Hold” and a consensus target price of $27.00.

Sandy Spring Bancorp Price Performance

NASDAQ SASR opened at $32.42 on Thursday. The company has a 50 day simple moving average of $31.52 and a 200-day simple moving average of $26.85. Sandy Spring Bancorp has a 52-week low of $19.27 and a 52-week high of $34.19. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 15.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 business posted $0.62 earnings per share.

Sandy Spring Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Wednesday, August 14th. Sandy Spring Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Investors Weigh In On Sandy Spring Bancorp

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Sandy Spring Bancorp by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,470,621 shares of the bank’s stock worth $60,182,000 after purchasing an additional 108,703 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Sandy Spring Bancorp by 12.0% in the second quarter. Systematic Financial Management LP now owns 904,434 shares of the bank’s stock valued at $22,032,000 after purchasing an additional 97,262 shares during the period. American Century Companies Inc. lifted its stake in shares of Sandy Spring Bancorp by 18.5% in the second quarter. American Century Companies Inc. now owns 775,252 shares of the bank’s stock worth $18,885,000 after buying an additional 120,996 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Sandy Spring Bancorp by 1,199.7% during the 2nd quarter. Victory Capital Management Inc. now owns 694,867 shares of the bank’s stock worth $16,927,000 after buying an additional 641,402 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Sandy Spring Bancorp by 5.7% during the 2nd quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock worth $11,528,000 after buying an additional 25,546 shares during the period. 66.90% of the stock is currently owned by institutional investors.

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.