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Sandy Spring (SASR)
:SASR
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Earnings Data
Report Date
Jan 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.48Last Year’s EPS
0.58Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 18, 2018
|% Change Since: 4.80%
|Next Earnings Date:Jul 19, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted a successful merger announcement with Sandy Spring Bancorp and strong financial performance, but also addressed challenges such as flat loan growth and margin compression. The strategic moves, including the CRE loan sale, are intended to position the bank for future growth.Company Guidance
During the SASR Q3 2024 earnings call, Atlantic Union Bankshares announced the merger with Sandy Spring Bancorp, creating a formidable franchise with a combined asset base of $39 billion. The guidance highlighted a notable financial performance, with a 6.1% annualized growth in deposits and relatively flat loan growth, ending down 0.2% due to anticipated Federal Reserve rate cuts. The quarter saw an annualized net charge-off of 1 basis point, indicating strong asset quality. Atlantic Union reported an adjusted operating return on tangible common equity of 19.2% and a return on assets of 1.25%. The efficiency ratio remained steady at 52.2%, with adjusted operating earnings per share rising to $0.83. The transaction expects 23% EPS accretion and a 2.0-year tangible book value earn-back period, with an internal rate of return of 20%, positioning the combined entity for robust profitability and growth.Merger with Sandy Spring Bancorp
Atlantic Union Bankshares announced a merger with Sandy Spring Bancorp, creating a $39 billion asset bank, making it the largest regional bank in the Mid-Atlantic.
Strong Financial Performance
Atlantic Union reported adjusted operating earnings of $74.5 million, up 32.3% from the second quarter of 2024, and a 24.7% increase from the third quarter of 2023.
Improved Asset Quality
Annualized net charge-offs were reduced to 1 basis point in Q3 from 4 basis points in Q2, indicating strong asset quality.
Deposit Growth
Deposit base grew by 6.1% on a linked quarter annualized basis, showing strong customer retention and growth.
Cost Savings from Merger
The merger is expected to achieve cost savings of approximately 27% of Sandy Spring's annual operating expenses.
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SASR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SASR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 21, 2024 | $32.32 | $31.50 | -2.54% |
| Jul 23, 2024 | $29.26 | $30.50 | +4.24% |
| Apr 23, 2024 | $20.10 | $21.13 | +5.12% |
| Jan 23, 2024 | $25.26 | $24.49 | -3.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Sandy Spring (SASR) report earnings?
Sandy Spring (SASR) is schdueled to report earning on Jan 28, 2025, TBA Not Confirmed.
What is Sandy Spring (SASR) earnings time?
Sandy Spring (SASR) earnings time is at Jan 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SASR EPS forecast?
SASR EPS forecast for the fiscal quarter 2024 (Q4) is 0.48.
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