FY2019 EPS Estimates for Sandy Spring Bancorp Inc. (NASDAQ:SASR) Raised by Analyst

Sandy Spring Bancorp Inc. (NASDAQ:SASR) – Equities researchers at G.Research raised their FY2019 earnings per share estimates for Sandy Spring Bancorp in a note issued to investors on Friday, October 18th. G.Research analyst S. Comery now expects that the bank will earn $3.25 per share for the year, up from their previous forecast of $3.20.

Other analysts have also issued reports about the company. Boenning Scattergood started coverage on Sandy Spring Bancorp in a report on Monday, June 24th. They set a “buy” rating and a $37.25 price objective for the company. BidaskClub raised Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Zacks Investment Research raised Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, October 2nd. Finally, Sandler O’Neill upgraded Sandy Spring Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, September 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $37.06.

Shares of SASR opened at $33.85 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a 50 day moving average price of $34.06 and a two-hundred day moving average price of $34.08. The firm has a market capitalization of $1.21 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.44 and a beta of 0.84. Sandy Spring Bancorp has a 52 week low of $29.83 and a 52 week high of $37.94.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The firm had revenue of $85.36 million during the quarter, compared to analyst estimates 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.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. boosted its stake in shares of Sandy Spring Bancorp by 43.4% in the 2nd quarter. Prudential Financial Inc. now owns 208,468 shares of the bank’s stock worth $7,272,000 after buying an additional 63,063 shares during the last quarter. WBI Investments Inc. purchased a new position in shares of Sandy Spring Bancorp in the 2nd quarter worth approximately $1,416,000. Envestnet Asset Management Inc. boosted its stake in shares of Sandy Spring Bancorp by 27.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,181 shares of the bank’s stock worth $495,000 after buying an additional 3,084 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sandy Spring Bancorp by 15.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,700 shares of the bank’s stock worth $1,536,000 after buying an additional 5,869 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Sandy Spring Bancorp by 35.5% in the 2nd quarter. LSV Asset Management now owns 140,800 shares of the bank’s stock worth $4,911,000 after buying an additional 36,900 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Sandy Spring Bancorp Company Profile

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.

See Also: Cash Flow

Earnings History and Estimates for Sandy Spring Bancorp (NASDAQ:SASR)

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