Bank of Marin Bancorp (NASDAQ:BMRC) Releases Earnings Results, Misses Expectations By $0.13 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) issued its earnings results on Monday. The bank reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13), Yahoo Finance reports. The company had revenue of $37.12 million during the quarter, compared to analyst estimates of $25.85 million. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.26%. During the same quarter in the previous year, the firm earned $0.28 earnings per share.

Bank of Marin Bancorp Price Performance

Shares of BMRC traded down $1.01 on Wednesday, hitting $20.31. The company’s stock had a trading volume of 166,213 shares, compared to its average volume of 74,664. The company has a market capitalization of $330.85 million, a PE ratio of 25.69 and a beta of 0.93. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $23.24. The company has a 50 day moving average price of $16.91 and a 200 day moving average price of $16.91.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 4.92%. Bank of Marin Bancorp’s dividend payout ratio is 120.48%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on Bank of Marin Bancorp from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $16.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, June 27th. Finally, DA Davidson decreased their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th.

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.