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

Bank of Marin Bancorp (NASDAQ:BMRC) released its quarterly earnings results on Monday. The bank reported $0.06 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.13), Yahoo Finance reports. The company had revenue of $37.12 million during the quarter, compared to the consensus estimate of $25.85 million. Bank of Marin Bancorp had a return on equity of 4.09% and a net margin of 9.28%. During the same period in the previous year, the firm posted $0.28 earnings per share.

Bank of Marin Bancorp Stock Performance

NASDAQ:BMRC traded down $0.09 during mid-day trading on Tuesday, hitting $19.52. 11,683 shares of the company’s stock traded hands, compared to its average volume of 72,884. The company has a fifty day moving average of $16.81 and a 200 day moving average of $16.91. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24. The company has a market capitalization of $317.98 million, a P/E ratio of 23.63 and a beta of 0.93.

Bank of Marin Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend is Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stephens reissued an “equal weight” rating and issued a $16.00 price target on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $21.00 price target on shares of Bank of Marin Bancorp in a research report on Friday, June 28th. Finally, DA Davidson reduced their price target 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.

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.