Revenue Update on Sandy Spring Bancorp(NASDAQ:SASR)

Sandy Spring Bancorp(NASDAQ:SASR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $36.73M. Analysts estimated a revenue of $37.93M. Earnings per share were $0.44. Analysts had estimated an EPS of $0.45.

Sandy Spring Bancorp (SASR) shares turned negative on Wednesdays trading session with the shares closing down -0.06 points or -0.20% at a volume of 39,094. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $30.44. The peak price level was also seen at $30.44 while the days lowest was $30.0925. Finally the shares closed at $30.24. The 52-week high of the shares is $31.14 while the 52-week low is $24.04. According to the latest information available, the market cap of the company is $722 M.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, James J Maiwurm (director) purchased 258 shares at $29.04 per share price.Also, On Aug 5, 2015, John D Sadowski (EVP, Chief Information Officer) sold 1,257 shares at $27.50 per share price.On May 28, 2015, Pamela A Little (director) purchased 837 shares at $26.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Sandy Spring Bancorp Inc. is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three business segments Community Banking Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services including various loan and deposit products to both individuals and businesses. The Insurance segment operates through Sandy Spring Insurance Corporation a subsidiary of the Bank and offers annuities as an alternative to traditional deposit accounts. The Investment Management segment operates through West Financial Services Inc. a subsidiary of the Bank which provides investment management and financial planning services. The Bank’s product portfolio includes loan and lease products deposit activities treasury activities and borrowing activities. The Bank operates around 44 community offices located in Central Maryland and Northern Virginia.

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