Bank of Marin Bancorp (NASDAQ:BMRC) Expected to Announce Earnings of $0.30 Per Share

Wall Street analysts expect that Bank of Marin Bancorp (NASDAQ:BMRC) will post earnings of $0.30 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bank of Marin Bancorp’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.50. Bank of Marin Bancorp reported earnings per share of $0.55 during the same quarter last year, which would indicate a negative year-over-year growth rate of 45.5%. The business is expected to issue its next quarterly earnings results on Monday, October 25th.

According to Zacks, analysts expect that Bank of Marin Bancorp will report full year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.32. For the next fiscal year, analysts anticipate that the business will report earnings of $2.20 per share, with EPS estimates ranging from $2.00 to $2.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Sunday, July 18th. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.61 by $0.10. The firm had revenue of $26.56 million during the quarter, compared to the consensus estimate of $26.55 million. Bank of Marin Bancorp had a net margin of 32.06% and a return on equity of 9.57%.

Several brokerages have recently commented on BMRC. Keefe, Bruyette & Woods raised shares of Bank of Marin Bancorp from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Tuesday, July 20th. Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 22nd.

Shares of NASDAQ:BMRC traded up $0.10 during midday trading on Thursday, hitting $35.57. 55,661 shares of the stock traded hands, compared to its average volume of 59,172. The stock has a market capitalization of $463.19 million, a PE ratio of 14.12 and a beta of 0.84. The business’s 50 day moving average is $34.82 and its two-hundred day moving average is $35.58. Bank of Marin Bancorp has a one year low of $27.26 and a one year high of $42.19.

The business also recently declared a quarterly dividend, which was paid on Friday, August 6th. Investors of record on Friday, July 30th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, July 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.70%. This is a boost from Bank of Marin Bancorp’s previous quarterly dividend of $0.23. Bank of Marin Bancorp’s payout ratio is currently 45.07%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its holdings in Bank of Marin Bancorp by 109.5% in the second quarter. Parametric Portfolio Associates LLC now owns 35,618 shares of the bank’s stock worth $1,136,000 after purchasing an additional 18,615 shares during the period. Marshall Wace LLP purchased a new stake in Bank of Marin Bancorp in the second quarter worth about $1,380,000. Morgan Stanley grew its holdings in Bank of Marin Bancorp by 12.4% in the second quarter. Morgan Stanley now owns 65,599 shares of the bank’s stock worth $2,094,000 after purchasing an additional 7,217 shares during the period. Advisor Resource Council purchased a new stake in Bank of Marin Bancorp in the second quarter worth about $230,000. Finally, Metropolitan Life Insurance Co NY grew its holdings in Bank of Marin Bancorp by 95,540.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 4,782 shares of the bank’s stock worth $153,000 after purchasing an additional 4,777 shares during the period. Institutional investors own 49.19% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is a bank holding company, which operates through the Bank of Marin, provides financial services to customers. It offers traditional community banking activities and wealth management and trust services; personal and business checking and savings accounts; certificates of deposit; individual retirement accounts; health savings accounts; certificate of deposit account registry services; insured cash sweep and demand deposit marketplace accounts.

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Earnings History and Estimates for Bank of Marin Bancorp (NASDAQ:BMRC)

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