DA Davidson Has Bearish Forecast for SASR FY2025 Earnings

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Research analysts at DA Davidson decreased their FY2025 earnings estimates for Sandy Spring Bancorp in a research note issued on Wednesday, October 23rd. DA Davidson analyst M. Navas now forecasts that the bank will earn $2.65 per share for the year, down from their previous forecast of $2.80. 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.

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

Sandy Spring Bancorp Stock Down 0.6 %

SASR stock opened at $32.42 on Friday. The company’s 50 day simple moving average is $31.52 and its 200-day simple moving average is $26.89. The firm has a market capitalization of $1.46 billion, a PE ratio of 15.89 and a beta of 0.95. Sandy Spring Bancorp has a 12 month low of $19.27 and a 12 month high of $34.19. 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 released its quarterly earnings results on Monday, October 21st. The bank reported $0.40 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.06). The business had revenue of $189.81 million during the quarter, compared to analyst estimates of $101.60 million. Sandy Spring Bancorp had a net margin of 11.54% and a return on equity of 5.74%. During the same quarter in the prior year, the company earned $0.62 earnings per share.

Hedge Funds Weigh In On Sandy Spring Bancorp

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Sandy Spring Bancorp by 16.3% during the fourth quarter. Wellington Management Group LLP now owns 313,534 shares of the bank’s stock worth $8,541,000 after purchasing an additional 43,987 shares during the period. Wedge Capital Management L L P NC raised its stake in Sandy Spring Bancorp by 69.1% during the second quarter. Wedge Capital Management L L P NC now owns 148,921 shares of the bank’s stock worth $3,628,000 after purchasing an additional 60,850 shares during the period. Great Lakes Advisors LLC raised its stake in Sandy Spring Bancorp by 432.5% during the second quarter. Great Lakes Advisors LLC now owns 192,533 shares of the bank’s stock worth $4,690,000 after purchasing an additional 156,377 shares during the period. AQR Capital Management LLC raised its stake in Sandy Spring Bancorp by 5.7% during the second quarter. AQR Capital Management LLC now owns 473,241 shares of the bank’s stock worth $11,528,000 after purchasing an additional 25,546 shares during the period. Finally, ProShare Advisors LLC raised its stake in Sandy Spring Bancorp by 5.7% during the first quarter. ProShare Advisors LLC now owns 349,036 shares of the bank’s stock worth $8,091,000 after purchasing an additional 18,887 shares during the period. Hedge funds and other institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.34 per share. 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 is currently 66.67%.

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.