Northland Capmk Analysts Lower Earnings Estimates for BM Technologies, Inc. (NYSE:BMTX)

BM Technologies, Inc. (NYSE:BMTX) – Equities researchers at Northland Capmk cut their Q2 2024 earnings per share (EPS) estimates for BM Technologies in a research note issued to investors on Monday, July 22nd. Northland Capmk analyst M. Grondahl now forecasts that the company will earn ($0.18) per share for the quarter, down from their previous 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.

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

A number of other analysts also recently weighed in on the company. Chardan Capital reiterated a “buy” rating and set a $8.00 price target on shares of BM Technologies in a report on Monday, May 20th. Northland Securities upped their target price on BM Technologies from $3.25 to $3.50 and gave the company a “market perform” rating in a research report on Monday, July 22nd.

BM Technologies Stock Down 5.0 %

Shares of NYSE BMTX opened at $2.67 on Thursday. The company has a market capitalization of $32.21 million, a PE ratio of -2.64 and a beta of 0.22. BM Technologies has a twelve month low of $1.41 and a twelve month high of $3.91. The firm has a fifty day simple moving average of $2.85 and a 200 day simple moving average of $2.18.

Institutional Investors Weigh In On BM Technologies

An institutional investor recently raised its position in BM Technologies stock. Pacific Ridge Capital Partners LLC lifted its stake in shares of BM Technologies, Inc. (NYSE:BMTX) by 40.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,768 shares of the company’s stock after purchasing an additional 185,626 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 5.44% of BM Technologies worth $1,324,000 at the end of the most recent reporting period. 20.15% of the stock is owned by institutional investors and hedge funds.

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.