Bank of Marin Bancorp (NASDAQ:BMRC) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Bank of Marin Bancorp (NASDAQ:BMRCGet Rating) announced its earnings results on Monday. The bank reported $0.81 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $37.03 million.

Bank of Marin Bancorp Trading Down 3.5 %

Shares of NASDAQ BMRC opened at $29.90 on Wednesday. The stock has a market cap of $479.30 million, a PE ratio of 10.99 and a beta of 0.76. Bank of Marin Bancorp has a 12-month low of $29.01 and a 12-month high of $38.74. The company has a 50-day moving average of $33.31 and a 200 day moving average of $32.66.

Bank of Marin Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, February 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 36.76%.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in shares of Bank of Marin Bancorp by 373.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,599 shares of the bank’s stock valued at $78,000 after purchasing an additional 2,050 shares in the last quarter. Captrust Financial Advisors grew its holdings in Bank of Marin Bancorp by 54.9% in the 1st quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock valued at $111,000 after buying an additional 1,124 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Bank of Marin Bancorp by 49.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,161 shares of the bank’s stock worth $164,000 after acquiring an additional 1,719 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in shares of Bank of Marin Bancorp by 45.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 7,517 shares of the bank’s stock worth $225,000 after acquiring an additional 2,356 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Bank of Marin Bancorp by 7.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock worth $259,000 after acquiring an additional 486 shares during the period. Institutional investors and hedge funds own 48.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BMRC shares. DA Davidson upped their price objective on shares of Bank of Marin Bancorp to $34.00 in a research report on Thursday, October 27th. StockNews.com started coverage on shares of Bank of Marin Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet upgraded Bank of Marin Bancorp from a “c+” rating to a “b” rating in a report on Friday, October 28th. Piper Sandler cut their price objective on Bank of Marin Bancorp to $33.00 in a research note on Friday, September 30th. Finally, Stephens raised their target price on Bank of Marin Bancorp from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 25th.

Bank of Marin Bancorp Company Profile

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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.

Further Reading

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

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