Bank of Marin Bancorp (NASDAQ:BMRC) Issues Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) issued its quarterly earnings data on Monday. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01, MarketWatch Earnings reports. Bank of Marin Bancorp had a return on equity of 11.54% and a net margin of 33.05%. The firm had revenue of $36.79 million during the quarter, compared to analyst estimates of $37.03 million.

Bank of Marin Bancorp Stock Down 3.5 %

BMRC opened at $29.90 on Wednesday. Bank of Marin Bancorp has a twelve month low of $29.01 and a twelve month high of $38.74. The company’s 50-day moving average price is $33.31 and its two-hundred day moving average price is $32.66. The stock has a market cap of $479.30 million, a price-to-earnings ratio of 10.99 and a beta of 0.76.

Bank of Marin Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, February 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 36.76%.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds have recently modified their holdings of BMRC. BlackRock Inc. grew its holdings in Bank of Marin Bancorp by 0.4% during the third quarter. BlackRock Inc. now owns 1,132,128 shares of the bank’s stock valued at $33,908,000 after purchasing an additional 4,099 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Bank of Marin Bancorp by 14.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 761,742 shares of the bank’s stock worth $26,714,000 after acquiring an additional 96,155 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Bank of Marin Bancorp by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock valued at $25,344,000 after acquiring an additional 21,712 shares during the period. State Street Corp lifted its holdings in Bank of Marin Bancorp by 1.1% during the second quarter. State Street Corp now owns 404,846 shares of the bank’s stock valued at $12,866,000 after purchasing an additional 4,372 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Bank of Marin Bancorp by 0.5% during the second quarter. Northern Trust Corp now owns 151,766 shares of the bank’s stock valued at $4,823,000 after purchasing an additional 827 shares during the last quarter. Institutional investors own 48.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMRC. Stephens upped their price target on Bank of Marin Bancorp from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 25th. DA Davidson boosted their price target on shares of Bank of Marin Bancorp to $34.00 in a report on Thursday, October 27th. StockNews.com began coverage on shares of Bank of Marin Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet upgraded Bank of Marin Bancorp from a “c+” rating to a “b” rating in a research note on Friday, October 28th. Finally, Piper Sandler decreased their price target on Bank of Marin Bancorp to $33.00 in a research report on Friday, September 30th.

About Bank of Marin Bancorp

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Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, professionals, not-for-profit organizations, and individuals in California, the United States. It offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry and insured cash sweep services.