DA Davidson Has Bearish Forecast for SASR FY2025 Earnings

Sandy Spring Bancorp, Inc. (NASDAQ:SASR) – Equities research analysts at DA Davidson lowered their FY2025 EPS estimates for shares of Sandy Spring Bancorp in a report released on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $2.50 for the year, down from their prior forecast of $2.65. The consensus estimate for Sandy Spring Bancorp’s current full-year earnings is $1.85 per share.

Sandy Spring Bancorp (NASDAQ:SASR) last posted its earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (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 the consensus estimate of $101.60 million. Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. During the same period in the previous year, the company posted $0.62 earnings per share.

Separately, StockNews.com assumed coverage on shares of Sandy Spring Bancorp in a research report on Wednesday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Sandy Spring Bancorp presently has a consensus rating of “Hold” and a consensus price target of $28.25.

Sandy Spring Bancorp Stock Performance

Shares of SASR stock opened at $34.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $35.69 and its 200-day simple moving average is $30.81. The firm has a market cap of $1.54 billion, a PE ratio of 17.89 and a beta of 0.96. Sandy Spring Bancorp has a 12 month low of $19.52 and a 12 month high of $39.55.

Hedge Funds Weigh In On Sandy Spring Bancorp

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position 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 in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Sandy Spring Bancorp by 93.9% in the third quarter. Franklin Resources Inc. now owns 1,271,498 shares of the bank’s stock worth $41,235,000 after buying an additional 615,591 shares in the last quarter. Basswood Capital Management L.L.C. boosted its holdings in Sandy Spring Bancorp by 2,164.4% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 468,891 shares of the bank’s stock valued at $14,709,000 after purchasing an additional 448,184 shares during the period. Verition Fund Management LLC bought a new stake in Sandy Spring Bancorp during the third quarter valued at $7,438,000. Finally, Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Sandy Spring Bancorp during the second quarter worth about $4,778,000. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, November 14th. Sandy Spring Bancorp’s payout ratio is currently 71.58%.

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.