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

Bank of Marin Bancorp (NASDAQ:BMRC) posted its quarterly earnings data on Monday. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Yahoo Finance reports. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The company had revenue of $39.21 million for the quarter, compared to analyst estimates of $27.30 million. During the same period in the previous year, the business posted $0.33 earnings per share.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC opened at $22.73 on Thursday. The company’s fifty day moving average is $20.88 and its two-hundred day moving average is $18.24. The firm has a market capitalization of $370.18 million, a P/E ratio of 27.39 and a beta of 0.92. Bank of Marin Bancorp has a one year low of $14.11 and a one year high of $23.35.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 120.48%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, October 10th. StockNews.com upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st.

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.