Bank of Marin Bancorp (NASDAQ:BMRC) Announces Quarterly Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC) released its quarterly earnings data on Monday. The bank reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10), Yahoo Finance reports. The firm had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $26.90 million. Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. During the same quarter in the previous year, the business earned $0.59 earnings per share.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $14.36 on Wednesday. The stock has a market capitalization of $234.07 million, a price-to-earnings ratio of 11.58 and a beta of 0.85. Bank of Marin Bancorp has a 1-year low of $12.89 and a 1-year high of $23.24. The business has a fifty day moving average price of $16.10 and a 200-day moving average price of $18.30.

Bank of Marin Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. Bank of Marin Bancorp’s payout ratio is 80.65%.

Analysts Set New Price Targets

BMRC has been the topic of several research reports. Stephens reduced their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday. DA Davidson dropped their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday.

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.