BM Technologies, Inc. (NYSE:BMTX) Expected to Post Q2 2024 Earnings of ($0.18) Per Share

BM Technologies, Inc. (NYSE:BMTX) – Equities researchers at Northland Capmk decreased their Q2 2024 earnings per share (EPS) estimates for shares of BM Technologies in a research note issued to investors on Monday, July 22nd. Northland Capmk analyst M. Grondahl now anticipates that the company will earn ($0.18) per share for the quarter, down from their prior forecast of ($0.12). The consensus estimate for BM Technologies’ current full-year earnings is ($0.27) per share. Northland Capmk also issued estimates for BM Technologies’ Q4 2024 earnings at ($0.05) EPS and FY2024 earnings at ($0.27) EPS.

Other research analysts have also recently issued research reports about the stock. Chardan Capital restated a “buy” rating and set a $8.00 price objective on shares of BM Technologies in a report on Monday, May 20th. Northland Securities boosted their price target on shares of BM Technologies from $3.25 to $3.50 and gave the company a “market perform” rating in a report on Monday, July 22nd.

BM Technologies Price Performance

Shares of BMTX stock opened at $2.67 on Thursday. The stock has a market cap of $32.21 million, a PE ratio of -2.64 and a beta of 0.22. The stock has a 50-day moving average of $2.85 and a 200-day moving average of $2.18. BM Technologies has a one year low of $1.41 and a one year high of $3.91.

BM Technologies (NYSE:BMTX) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.21. BM Technologies had a negative return on equity of 33.46% and a negative net margin of 19.78%. The business had revenue of $16.18 million during the quarter, compared to the consensus estimate of $15.33 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BM Technologies stock. Pacific Ridge Capital Partners LLC increased its position in shares of BM Technologies, Inc. (NYSE:BMTX) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 645,768 shares of the company’s stock after buying an additional 185,626 shares during the quarter. Pacific Ridge Capital Partners LLC owned 5.44% of BM Technologies worth $1,324,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.15% of the company’s stock.

About BM Technologies

BM Technologies, Inc, a financial technology company, facilitates deposits and banking services between a customer and its partner banks in the United States. It offers digital banking and disbursement services to consumers and students through a full service fintech banking platform. The company was formerly known as BankMobile Technologies, Inc and changed its name to BM Technologies, Inc in January 2021.