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

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) issued its quarterly earnings results on Monday. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01, Yahoo Finance reports. The business had revenue of $39.21 million for the quarter, compared to the consensus estimate of $27.30 million. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. During the same quarter in the prior year, the company earned $0.33 EPS.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC traded down $0.17 on Wednesday, hitting $22.73. 74,708 shares of the stock were exchanged, compared to its average volume of 77,527. The stock has a market capitalization of $370.18 million, a price-to-earnings ratio of 27.39 and a beta of 0.92. The company’s 50-day moving average price is $20.81 and its 200 day moving average price is $18.21. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.35.

Bank of Marin Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 4.40%. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BMRC shares. DA Davidson upgraded shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price objective on Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Read Our Latest Report on Bank of Marin Bancorp

Bank of Marin Bancorp Company Profile

(Get Free Report)

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.

Featured Stories

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

Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.