By Shares of Sandy Spring Bancorp traded lower on the Nasdaq Tuesday, following the release of their fourth-quarter financial results. While the parent company of Sandy Spring Bank reported a decline in earnings per share compared to the same period last year, some key details regarding the company’s performance were also highlighted.
Adjustments in Trading and Earnings
During afternoon trading, Sandy Spring shares experienced a 3.9% dip, settling at $25.54. The range of the stock’s value for the day spanned from a low of $24.96 to a high of $27.24.
Prior to market opening on Tuesday, the parent company revealed fourth-quarter earnings per share of 58 cents. This figure fell short of the earnings per share of 76 cents achieved during the year-ago period.
Changes in Assets, Loans, and Deposits
Aside from earnings per share, some other notable changes were disclosed in Sandy Spring Bancorp’s financial report. As of December 31, total assets amounted to $14 billion, sliding slightly from $14.1 billion recorded at the end of September. On a positive note, total loans increased to $11.4 billion at year-end, up from $11.3 billion three months earlier. However, deposits experienced a decline, totaling $11 billion at December 31 compared to $11.2 billion at the end of September.
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