Sandy Spring Bancorp (NASDAQ:SASR) released its quarterly earnings results on Thursday. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02, Briefing.com reports. The business had revenue of $85.36 million during the quarter, compared to the consensus estimate of $84.70 million. Sandy Spring Bancorp had a return on equity of 10.22% and a net margin of 27.41%. During the same period in the previous year, the company posted $0.79 EPS.
SASR stock opened at $33.85 on Friday. Sandy Spring Bancorp has a twelve month low of $29.83 and a twelve month high of $37.94. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.21 billion, a P/E ratio of 11.84, a PEG ratio of 1.44 and a beta of 0.84. The business’s 50-day moving average price is $34.06 and its 200-day moving average price is $34.08.
SASR has been the subject of a number of recent research reports. Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Thursday, September 26th. Boenning Scattergood began coverage on Sandy Spring Bancorp in a research note on Monday, June 24th. They set a “buy” rating and a $37.25 price target for the company. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $38.45.
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 The company operates in three segments: Community Banking, Insurance, and Investment Management.
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