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

Bank of Marin Bancorp (NASDAQ:BMRCGet Free Report) 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.

Check Out Our Latest Analysis on Bank of Marin Bancorp

Bank of Marin Bancorp Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Bank of Marin Bancorp (NASDAQ:BMRC)

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