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SASR

Sandy Spring Bancorp NasdaqGS:SASR Stock Report

Last Price

US$35.64

Market Cap

US$1.6b

7D

-7.5%

1Y

-22.2%

Updated

29 Sep, 2022

Data

Company Financials +
SASR fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance2/6
Financial Health6/6
Dividends5/6

SASR Stock Overview

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.

Sandy Spring Bancorp Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Sandy Spring Bancorp
Historical stock prices
Current Share PriceUS$35.64
52 Week HighUS$52.04
52 Week LowUS$35.54
Beta1.01
1 Month Change-8.38%
3 Month Change-10.27%
1 Year Change-22.22%
3 Year Change7.00%
5 Year Change-15.45%
Change since IPO205.49%

Recent News & Updates

Jul 28

Sandy Spring Bancorp declares $0.34 dividend

Sandy Spring Bancorp (NASDAQ:SASR) declares $0.34/share quarterly dividend, in line with previous. Forward yield 3.33% Payable Aug. 17; for shareholders of record Aug. 10; ex-div Aug. 9. See SASR Dividend Scorecard, Yield Chart, & Dividend Growth.

Jul 21

Sandy Spring Bancorp Non-GAAP EPS of $0.98 beats by $0.04, revenue of $141.2M beats by $12.55M

Sandy Spring Bancorp press release (NASDAQ:SASR): Q2 Non-GAAP EPS of $0.98 beats by $0.04. Revenue of $141.2M (+5.1% Y/Y) beats by $12.55M. “We have sustained robust commercial loan production for three consecutive quarters. Our teams are focused and strategic, our products and services are competitive, and we are maximizing our in-market presence to win new relationships,” said Daniel J. Schrider, President and CEO of Sandy Spring Bank. “Despite the economic concerns in the marketplace, the businesses we bank continue to grow and our pipeline remains strong. We are committed to supporting local businesses of all sizes and helping the Greater Washington region thrive.”

Shareholder Returns

SASRUS BanksUS Market
7D-7.5%-4.2%-3.1%
1Y-22.2%-23.9%-21.5%

Return vs Industry: SASR exceeded the US Banks industry which returned -23.8% over the past year.

Return vs Market: SASR underperformed the US Market which returned -20.3% over the past year.

Price Volatility

Is SASR's price volatile compared to industry and market?
SASR volatility
SASR Average Weekly Movement3.2%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.8%

Stable Share Price: SASR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: SASR's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18681,099Dan Schriderhttps://www.sandyspringbank.com

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. It operates through three segments: Community Banking, Insurance, and Investment Management. The Community Banking segment offers financial products and services, including various loan and deposit products.

Sandy Spring Bancorp Fundamentals Summary

How do Sandy Spring Bancorp's earnings and revenue compare to its market cap?
SASR fundamental statistics
Market CapUS$1.59b
Earnings (TTM)US$200.25m
Revenue (TTM)US$524.01m

7.9x

P/E Ratio

1.1x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SASR income statement (TTM)
RevenueUS$524.01m
Cost of RevenueUS$0
Gross ProfitUS$524.01m
Other ExpensesUS$323.75m
EarningsUS$200.25m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)4.49
Gross Margin100.00%
Net Profit Margin38.21%
Debt/Equity Ratio50.3%

How did SASR perform over the long term?

See historical performance and comparison

Dividends

3.8%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is SASR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SASR?

Other financial metrics that can be useful for relative valuation.

SASR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio4.3x

Price to Earnings Ratio vs Peers

How does SASR's PE Ratio compare to its peers?

SASR PE Ratio vs Peers
The above table shows the PE ratio for SASR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.5x
EFSC Enterprise Financial Services
10.6x6.4%US$1.7b
FBK FB Financial
12.2x15.1%US$1.8b
MCHB Mechanics Bank
7.8xn/aUS$1.6b
TBK Triumph Bancorp
11.3x-11.8%US$1.3b
SASR Sandy Spring Bancorp
7.9x1.9%US$1.6b

Price-To-Earnings vs Peers: SASR is good value based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (10.5x).


Price to Earnings Ratio vs Industry

How does SASR's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: SASR is good value based on its Price-To-Earnings Ratio (7.9x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is SASR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SASR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.9x
Fair PE Ratio11.7x

Price-To-Earnings vs Fair Ratio: SASR is good value based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (11.7x).


Share Price vs Fair Value

What is the Fair Price of SASR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SASR ($35.64) is trading below our estimate of fair value ($60.7)

Significantly Below Fair Value: SASR is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


Discover undervalued companies

Future Growth

How is Sandy Spring Bancorp forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


1.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SASR's forecast earnings growth (1.9% per year) is below the savings rate (1.9%).

Earnings vs Market: SASR's earnings (1.9% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: SASR's earnings are forecast to grow, but not significantly.

Revenue vs Market: SASR's revenue (5.7% per year) is forecast to grow slower than the US market (7.7% per year).

High Growth Revenue: SASR's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SASR's Return on Equity is forecast to be low in 3 years time (11.9%).


Discover growth companies

Past Performance

How has Sandy Spring Bancorp performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


28.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SASR has high quality earnings.

Growing Profit Margin: SASR's current net profit margins (38.2%) are lower than last year (41.2%).


Past Earnings Growth Analysis

Earnings Trend: SASR's earnings have grown significantly by 28.4% per year over the past 5 years.

Accelerating Growth: SASR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SASR had negative earnings growth (-13.8%) over the past year, making it difficult to compare to the Banks industry average (8.7%).


Return on Equity

High ROE: SASR's Return on Equity (13.6%) is considered low.


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Financial Health

How is Sandy Spring Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SASR's Assets to Equity ratio (9x) is low.

Allowance for Bad Loans: SASR has a sufficient allowance for bad loans (261%).

Low Risk Liabilities: 93% of SASR's liabilities are made up of primarily low risk sources of funding.

Loan Level: SASR has an appropriate level of Loans to Assets ratio (80%).

Low Risk Deposits: SASR's Loans to Deposits ratio (97%) is appropriate.

Level of Bad Loans: SASR has an appropriate level of bad loans (0.4%).


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Dividend

What is Sandy Spring Bancorp current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.82%

Current Dividend Yield

Dividend Yield vs Market

Sandy Spring Bancorp Dividend Yield vs Market
How does Sandy Spring Bancorp dividend yield compare to the market?
SegmentDividend Yield
Company (Sandy Spring Bancorp)3.8%
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Banks)3.4%
Analyst forecast in 3 Years (Sandy Spring Bancorp)3.9%

Notable Dividend: SASR's dividend (3.82%) is higher than the bottom 25% of dividend payers in the US market (1.64%).

High Dividend: SASR's dividend (3.82%) is low compared to the top 25% of dividend payers in the US market (4.61%).


Stability and Growth of Payments

Stable Dividend: SASR's dividends per share have been stable in the past 10 years.

Growing Dividend: SASR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.1%), SASR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SASR's dividends in 3 years are forecast to be well covered by earnings (32.2% payout ratio).


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

8.8yrs

Average management tenure


CEO

Dan Schrider (58 yo)

13.67yrs

Tenure

US$2,645,831

Compensation

Mr. Daniel J. Schrider, also known as Dan, has been the President and Chief Executive Officer at Sandy Spring Bancorp Inc. and Sandy Spring Bank, Inc. since March 26, 2008 and January 1, 2009 respectively...


CEO Compensation Analysis

Dan Schrider's Compensation vs Sandy Spring Bancorp Earnings
How has Dan Schrider's remuneration changed compared to Sandy Spring Bancorp's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$200m

Mar 31 2022n/an/a

US$202m

Dec 31 2021US$3mUS$842k

US$234m

Sep 30 2021n/an/a

US$244m

Jun 30 2021n/an/a

US$232m

Mar 31 2021n/an/a

US$161m

Dec 31 2020US$2mUS$805k

US$96m

Sep 30 2020n/an/a

US$68m

Jun 30 2020n/an/a

US$53m

Mar 31 2020n/an/a

US$95m

Dec 31 2019US$2mUS$743k

US$116m

Sep 30 2019n/an/a

US$113m

Jun 30 2019n/an/a

US$113m

Mar 31 2019n/an/a

US$110m

Dec 31 2018US$2mUS$694k

US$100m

Sep 30 2018n/an/a

US$84m

Jun 30 2018n/an/a

US$69m

Mar 31 2018n/an/a

US$60m

Dec 31 2017US$1mUS$605k

US$53m

Sep 30 2017n/an/a

US$58m

Jun 30 2017n/an/a

US$57m

Mar 31 2017n/an/a

US$53m

Dec 31 2016US$1mUS$595k

US$48m

Sep 30 2016n/an/a

US$48m

Jun 30 2016n/an/a

US$45m

Mar 31 2016n/an/a

US$45m

Dec 31 2015US$1mUS$601k

US$45m

Compensation vs Market: Dan's total compensation ($USD2.65M) is below average for companies of similar size in the US market ($USD5.56M).

Compensation vs Earnings: Dan's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: SASR's management team is seasoned and experienced (8.8 years average tenure).


Board Members

Experienced Board: SASR's board of directors are considered experienced (8.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGS:SASR Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
16 May 22BuyUS$96,085Craig RuppertIndividual2,500US$38.43

Ownership Breakdown

What is the ownership structure of SASR?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,327,5513.0%
General Public13,571,89030.4%
Institutions29,744,82866.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 54.83% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.28%
BlackRock, Inc.
4,143,568$147.7m-3.2%no data
6.69%
T. Rowe Price Group, Inc.
2,986,559$106.4m0.75%0.01%
6.22%
The Vanguard Group, Inc.
2,775,759$98.9m1.24%no data
5.26%
Dimensional Fund Advisors LP
2,346,664$83.6m-1.1%0.02%
3.19%
Westwood Management Corp.
1,422,795$50.7m1.1%0.62%
2.92%
State Street Global Advisors, Inc.
1,305,185$46.5m-14.07%no data
2.56%
Macquarie Investment Management Business Trust
1,143,478$40.8m0.34%0.05%
1.84%
Geode Capital Management, LLC
822,550$29.3m-0.82%no data
1.77%
Massachusetts Financial Services Company
791,787$28.2m2.61%0.01%
1.68%
Systematic Financial Management LP
749,544$26.7m1.36%0.92%
1.64%
AllianceBernstein L.P.
733,775$26.2m0.01%0.01%
1.5%
Victory Capital Management Inc.
670,598$23.9m14.63%0.03%
1.47%
Janus Henderson Group plc
657,708$23.4m-3.83%0.01%
1.29%
Columbia Management Investment Advisers, LLC
576,008$20.5m-12.55%0.01%
1.2%
Northern Trust Global Investments
535,247$19.1m-2.42%no data
1%
Norges Bank Investment Management
447,845$16.0m0%no data
0.91%
Charles Schwab Investment Management, Inc.
404,153$14.4m1.21%no data
0.69%
Chartwell Investment Partners, LLC
307,495$11.0m-3.04%0.49%
0.66%
BNY Mellon Asset Management
292,610$10.4m-8.99%no data
0.56%
Brian Lemek
252,159$9.0m0.03%no data
0.54%
Principal Global Investors, LLC
242,092$8.6m55.7%0.01%
0.54%
Forest Hill Capital, LLC
241,252$8.6m-37.21%3.86%
0.5%
Kenneth Cook
221,737$7.9m-1.3%no data
0.48%
ProShare Advisors LLC
214,140$7.6m-7.78%0.03%
0.43%
J.P. Morgan Asset Management, Inc.
192,864$6.9m3.18%no data

Company Information

Sandy Spring Bancorp, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Sandy Spring Bancorp, Inc.
  • Ticker: SASR
  • Exchange: NasdaqGS
  • Founded: 1868
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$1.591b
  • Shares outstanding: 44.64m
  • Website: https://www.sandyspringbank.com

Number of Employees


Location

  • Sandy Spring Bancorp, Inc.
  • 17801 Georgia Avenue
  • Olney
  • Maryland
  • 20832
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SASRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1995

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.