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

Bank of Marin Bancorp (NASDAQ:BMRC) issued its earnings results on Monday. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Yahoo Finance reports. The firm had revenue of $39.21 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.33 earnings per share.

Bank of Marin Bancorp Stock Up 4.3 %

NASDAQ:BMRC opened at $22.73 on Tuesday. The stock has a market capitalization of $370.18 million, a price-to-earnings ratio of 27.39 and a beta of 0.92. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The firm has a 50 day moving average of $20.73 and a 200 day moving average of $18.15.

Bank of Marin Bancorp Dividend Announcement

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

Analysts Set New Price Targets

BMRC has been the subject of several research analyst reports. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on 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.

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.