Bank of Marin Bancorp (NASDAQ:BMRC) Expected to Post Q3 2024 Earnings of $0.22 Per Share

Bank of Marin Bancorp (NASDAQ:BMRC) – DA Davidson issued their Q3 2024 EPS estimates for Bank of Marin Bancorp in a research report issued on Thursday, August 1st. DA Davidson analyst J. Rulis anticipates that the bank will earn $0.22 per share for the quarter. DA Davidson has a “Neutral” rating and a $15.00 price target on the stock. The consensus estimate for Bank of Marin Bancorp’s current full-year earnings is $0.82 per share. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2025 earnings at $1.20 EPS.

BMRC has been the subject of several other research reports. 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 note on Wednesday. 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.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC opened at $18.69 on Friday. The company has a market capitalization of $304.46 million, a P/E ratio of 22.52 and a beta of 0.93. The business has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $16.92. Bank of Marin Bancorp has a 1 year low of $14.11 and a 1 year high of $23.24.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.13). Bank of Marin Bancorp had a positive return on equity of 3.26% and a negative net margin of 9.09%. The company had revenue of $37.12 million for the quarter, compared to analysts’ expectations of $25.85 million. During the same quarter in the previous year, the business earned $0.28 EPS.

Institutional Trading of Bank of Marin Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its position in Bank of Marin Bancorp by 2.7% during the second quarter. Rhumbline Advisers now owns 25,011 shares of the bank’s stock worth $405,000 after buying an additional 656 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Bank of Marin Bancorp during the second quarter worth about $396,000. Fiduciary Financial Group LLC bought a new position in shares of Bank of Marin Bancorp in the second quarter worth approximately $287,000. Riverview Trust Co raised its stake in Bank of Marin Bancorp by 105.5% in the second quarter. Riverview Trust Co now owns 1,950 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,001 shares in the last quarter. Finally, CWM LLC lifted its position in Bank of Marin Bancorp by 129.2% during the second quarter. CWM LLC now owns 1,944 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,096 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 5.35%. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

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.