Bank of Marin Bancorp (NASDAQ:BMRC) Announces Earnings Results, Beats Estimates By $0.06 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) issued its quarterly earnings results on Monday. The bank reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06, Zacks reports. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period last year, the firm posted $0.04 EPS.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC traded up $0.55 during midday trading on Monday, reaching $24.54. 3,374 shares of the stock were exchanged, compared to its average volume of 44,850. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $27.11. The stock has a market capitalization of $394.62 million, a P/E ratio of -28.63 and a beta of 0.93. The company has a 50 day simple moving average of $24.28 and a 200 day simple moving average of $22.14.

Wall Street Analysts Forecast Growth

BMRC has been the topic of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, October 10th.

About Bank of Marin Bancorp

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, not-for-profit organizations, and commercial real estate investors in the United States. The company 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.