Sandy Spring Bancorp Inc reports results for the quarter ended in September 30 - Earnings Summary

Sandy Spring Bancorp

21/10/2024 17:19

* Sandy Spring Bancorp Inc  SASR.OQ  reported quarterly
adjusted
earnings of 36 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 62 cents.  The mean expectation of four analysts
for the quarter was for earnings of 46 cents per share. Wall
Street expected results to range from 42 cents to 48 cents per
share.
    * Revenue fell 4.3% to $81.41 million from a year ago;
analysts
expected $88.49 million. 
    * Sandy Spring Bancorp Inc's reported EPS for the quarter
was 36
cents​.
    * The company reported quarterly net income of $16.21
million.
    * Sandy Spring Bancorp Inc shares had risen by 4.0% this
quarter and gained 19.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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 32.50 
This summary was machine generated from LSEG data October 21 at
04:19 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
 Sep. 30 2024      0.46           0.36           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