Equities research analysts expect Bank of Marin Bancorp (NASDAQ:BMRC) to post $0.60 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Bank of Marin Bancorp’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.58. Bank of Marin Bancorp reported earnings of $0.56 per share in the same quarter last year, which would suggest a positive year over year growth rate of 7.1%. The business is expected to announce its next quarterly earnings report on Monday, July 22nd.
On average, analysts expect that Bank of Marin Bancorp will report full-year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.50. For the next financial year, analysts expect that the business will report earnings of $2.63 per share, with EPS estimates ranging from $2.40 to $2.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, April 22nd. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.11). The firm had revenue of $25.62 million during the quarter, compared to analysts’ expectations of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.79% and a net margin of 31.44%.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Friday, April 12th. DA Davidson restated a “neutral” rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd. Finally, BidaskClub upgraded Bank of Marin Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $44.75.
In other Bank of Marin Bancorp news, insider Peter Pelham sold 2,818 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $41.93, for a total transaction of $118,158.74. Following the sale, the insider now directly owns 16,981 shares of the company’s stock, valued at approximately $712,013.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Russell A. Colombo sold 2,553 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $42.10, for a total value of $107,481.30. Following the sale, the chief executive officer now directly owns 65,409 shares in the company, valued at $2,753,718.90. The disclosure for this sale can be found here. Insiders have sold a total of 5,995 shares of company stock worth $251,505 over the last ninety days. 5.29% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Castle Rock Wealth Management LLC acquired a new stake in Bank of Marin Bancorp during the 1st quarter worth about $16,276,000. RMB Capital Management LLC acquired a new stake in shares of Bank of Marin Bancorp during the 1st quarter valued at about $285,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Bank of Marin Bancorp during the 1st quarter valued at about $69,000. Oxford Asset Management LLP grew its position in shares of Bank of Marin Bancorp by 361.0% during the 1st quarter. Oxford Asset Management LLP now owns 36,833 shares of the bank’s stock valued at $1,499,000 after acquiring an additional 28,843 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Bank of Marin Bancorp during the 1st quarter valued at about $75,000. 43.07% of the stock is currently owned by institutional investors.
BMRC stock traded down $0.24 during midday trading on Friday, reaching $41.93. The stock had a trading volume of 15,581 shares, compared to its average volume of 32,274. The firm has a market capitalization of $573.86 million, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. Bank of Marin Bancorp has a 52-week low of $37.92 and a 52-week high of $45.42.
The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, May 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, May 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 32.62%.
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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