Brokers Offer Predictions for Sandy Spring Bancorp Inc.’s FY2017 Earnings (SASR)

Sandy Spring Bancorp Inc. (NASDAQ:SASR) – Equities researchers at Gabelli issued their FY2017 earnings estimates for shares of Sandy Spring Bancorp in a research report issued on Monday. Gabelli analyst S. Comery expects that the bank will post earnings per share of $2.50 for the year. Gabelli currently has a “Buy” rating and a $50.00 target price on the stock. Gabelli also issued estimates for Sandy Spring Bancorp’s FY2018 earnings at $2.85 EPS, FY2019 earnings at $3.25 EPS, FY2020 earnings at $3.55 EPS and FY2021 earnings at $3.85 EPS.

Several other equities analysts have also recently weighed in on SASR. Zacks Investment Research cut Sandy Spring Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. ValuEngine upgraded shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Boenning Scattergood reiterated a “hold” rating on shares of Sandy Spring Bancorp in a research note on Friday, October 20th. Finally, BidaskClub upgraded shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Sandy Spring Bancorp currently has a consensus rating of “Buy” and an average target price of $45.00.

Sandy Spring Bancorp (NASDAQ:SASR) opened at $39.71 on Wednesday. The firm has a market capitalization of $936.23, a PE ratio of 16.48 and a beta of 0.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.12. Sandy Spring Bancorp has a 1-year low of $36.50 and a 1-year high of $45.64.

Sandy Spring Bancorp (NASDAQ:SASR) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). The company had revenue of $55.44 million during the quarter, compared to the consensus estimate of $58.34 million. Sandy Spring Bancorp had a net margin of 24.31% and a return on equity of 10.61%. During the same quarter in the previous year, the business earned $0.56 EPS.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in Sandy Spring Bancorp by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 8,994 shares of the bank’s stock valued at $365,000 after purchasing an additional 182 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sandy Spring Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,066 shares of the bank’s stock valued at $206,000 after purchasing an additional 759 shares during the last quarter. Citigroup Inc. lifted its stake in Sandy Spring Bancorp by 12.5% in the 2nd quarter. Citigroup Inc. now owns 7,353 shares of the bank’s stock valued at $298,000 after purchasing an additional 817 shares during the last quarter. Voya Investment Management LLC lifted its stake in Sandy Spring Bancorp by 5.8% in the 2nd quarter. Voya Investment Management LLC now owns 14,980 shares of the bank’s stock valued at $609,000 after purchasing an additional 821 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in Sandy Spring Bancorp by 19.5% during the third quarter. Stratos Wealth Partners LTD. now owns 7,967 shares of the bank’s stock worth $330,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

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About Sandy Spring Bancorp

Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.

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