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 4.11% and a net margin of 9.28%. During the same quarter in the previous year, the business earned $0.59 earnings per share.

Bank of Marin Bancorp Trading Down 0.6 %

Shares of NASDAQ:BMRC opened at $14.36 on Wednesday. Bank of Marin Bancorp has a 12-month low of $12.89 and a 12-month high of $23.24. The business’s fifty day simple moving average is $16.10 and its 200-day simple moving average is $18.30. The company has a market capitalization of $234.07 million, a PE ratio of 17.30 and a beta of 0.85.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be issued a $0.25 dividend. The ex-dividend date 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 dividend payout ratio is presently 120.48%.

Wall Street Analyst Weigh In

Several research firms have commented on BMRC. 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 cut their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a 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.