Sandy Spring Bancorp Inc reports results for the quarter ended in June - Earnings Summary

Sandy Spring Bancorp

23/07/2024 14:52

* Sandy Spring Bancorp Inc  SASR.OQ  reported quarterly
adjusted
earnings of 51 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 55 cents.  The mean expectation of four analysts for the
quarter was for earnings of 43 cents per share. Wall Street
expected results to range from 39 cents to 45 cents per share.
    * Revenue fell 11.3% to $80.29 million from a year ago;
analysts
expected $81.87 million. 
    * Sandy Spring Bancorp Inc's reported EPS for the quarter
was 51
cents​.
    * The company reported quarterly net income of $22.81
million.
    * Sandy Spring Bancorp Inc shares had risen by 22.7% this
quarter and gained 9.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Sandy Spring
Bancorp Inc is $25.00 
This summary was machine generated from LSEG data July 23 at
01:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.43           0.51           Beat
 Mar. 31 2024      0.45           0.49           Beat
 Dec. 31 2023      0.52           0.60           Beat
 Sep. 30 2023      0.56           0.62           Beat