Equities research analysts predict that Bank of Marin Bancorp (NASDAQ:BMRC) will post $25.61 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Bank of Marin Bancorp’s earnings, with estimates ranging from $25.00 million to $26.80 million. Bank of Marin Bancorp reported sales of $22.13 million during the same quarter last year, which indicates a positive year over year growth rate of 15.7%. The company is expected to announce its next earnings report on Monday, January 28th.
According to Zacks, analysts expect that Bank of Marin Bancorp will report full year sales of $100.71 million for the current year, with estimates ranging from $100.00 million to $102.70 million. For the next fiscal year, analysts forecast that the firm will report sales of $107.47 million, with estimates ranging from $105.20 million to $110.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, October 22nd. The bank reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. The company had revenue of $25.78 million for the quarter, compared to analyst estimates of $25.33 million. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.40%.
Shares of NASDAQ BMRC traded up $0.26 during mid-day trading on Tuesday, hitting $82.48. The company’s stock had a trading volume of 1,077 shares, compared to its average volume of 19,520. The firm has a market capitalization of $549.06 million, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.80 and a beta of 0.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a one year low of $63.50 and a one year high of $90.85.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Thursday, November 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, October 31st. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 39.02%.
In related news, insider Peter Pelham sold 1,672 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the sale, the insider now directly owns 9,556 shares in the company, valued at approximately $845,132.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.17% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in Bank of Marin Bancorp by 5.2% during the 1st quarter. Russell Investments Group Ltd. now owns 17,603 shares of the bank’s stock worth $1,214,000 after buying an additional 877 shares during the period. Confluence Investment Management LLC raised its holdings in Bank of Marin Bancorp by 1.4% during the 3rd quarter. Confluence Investment Management LLC now owns 73,284 shares of the bank’s stock worth $6,149,000 after buying an additional 1,022 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Bank of Marin Bancorp by 11.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 14,071 shares of the bank’s stock worth $971,000 after buying an additional 1,500 shares during the period. Bank of New York Mellon Corp raised its holdings in Bank of Marin Bancorp by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 38,086 shares of the bank’s stock worth $3,080,000 after buying an additional 1,679 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Bank of Marin Bancorp by 10.2% during the 1st quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock worth $1,270,000 after buying an additional 1,705 shares during the period. Hedge funds and other institutional investors own 44.52% of the company’s stock.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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