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

Bank of Marin Bancorp (NASDAQ:BMRC) 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.

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 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.