Bank of Marin Bancorp (NASDAQ:BMRC) is expected to report earnings of $0.64 per share
Stock analysts expect Bank of Marin Bancorp Inc (NASDAQ:BMRC – Get Rating) to post earnings of $0.64 per share for the current quarter, according to Zacks Investment Research. Three analysts have made earnings estimates for Bank of Marin Bancorp, with estimates ranging from $0.63 to $0.65. Bank of Marin Bancorp reported earnings of $0.66 per share in the same quarter last year, suggesting a negative 3% year-over-year growth rate. The company is due to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Bank of Marin Bancorp to report annual earnings of $2.68 per share for the current year, with EPS estimates ranging from $2.61 to $2.75. For the next fiscal year, analysts expect the company to report earnings of $2.89 per share, with EPS estimates ranging from $2.84 to $3.00. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts who track Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last reported results on Monday, January 24. The bank reported earnings per share of $0.66 for the quarter, beating the consensus estimate of $0.57 by $0.09. The company posted revenue of $33.35 million for the quarter, versus analyst estimates of $32.50 million. Bank of Marin Bancorp achieved a return on equity of 9.44% and a net margin of 28.04%. In the same quarter last year, the company achieved EPS of $0.60.
Several research analysts weighed in on BMRC shares. Stephens began coverage of Bank of Marin Bancorp in a research note on Tuesday, December 28. They issued an “equal weight” rating and target price of $40.00 on the stock. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a price target of $43.00 on the stock in a Wednesday, January 26 research note. Finally, TheStreet upgraded Bank of Marin Bancorp from a ‘b’ rating to a ‘c+’ rating in a Wednesday, March 16 report.
In related news, director Russell A. Colombo sold 9,000 shares of the company in a trade on Monday, January 3. The stock was sold at an average price of $37.43, for a total value of $336,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, director Russell A. Colombo sold 7,113 shares of the company in a trade on Monday, January 31. The shares were sold at an average price of $37.12, for a total value of $264,034.56. The disclosure of this sale can be found here. Company insiders own 5.59% of the company’s shares.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Bank of Marin Bancorp by 15.5% during the third quarter. BlackRock Inc. now owns 1,198,048 shares of the bank valued at $45,226,000 after acquiring an additional 160,585 shares during the period. Alliancebernstein LP increased its position in Bank of Marin Bancorp by 40.9% during the third quarter. Alliancebernstein LP now owns 774,298 shares of the bank valued at $29,230,000 after acquiring an additional 224,841 shares during the period. Dimensional Fund Advisors LP increased its position in Bank of Marin Bancorp by 34.0% during the third quarter. Dimensional Fund Advisors LP now owns 718,114 shares of the bank valued at $27,109,000 after acquiring an additional 182,149 shares during the period. The Manufacturers Life Insurance Company increased its position in Bank of Marin Bancorp by 1.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 665,587 shares of the bank valued at $24,780,000 after acquiring an additional 8,539 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Bank of Marin Bancorp by 46.0% during the third quarter. The Manufacturers Life Insurance Company now owns 657,048 shares of the bank valued at $24,804,000 after acquiring an additional 207,060 shares during the period. 47.72% of the shares are held by hedge funds and other institutional investors.
BMRC traded $0.67 during Friday’s trading, hitting $36.02. 43,089 shares were traded, against an average volume of 50,308. The stock has a fifty-day moving average price of $36.10 and a two-hundred-day moving average price of $36.77. Bank of Marin Bancorp has a 1-year low of $30.69 and a 1-year high of $40.83. The company has a market capitalization of $574.16 million, a P/E ratio of 15.46 and a beta of 0.74.
The company also recently announced a quarterly dividend, which was paid on Friday, February 11. Investors of record on Friday, February 4 received a dividend of $0.24. The ex-dividend date was Thursday, February 3. This represents an annualized dividend of $0.96 and a yield of 2.67%. Bank of Marin Bancorp’s payout ratio is currently 41.20%.
About Bank of Marin Bancorp (Get an evaluation)
Bank of Marin Bancorp is a bank holding company, which operates through Bank of Marin, providing financial services to customers. It offers traditional community banking and wealth and trust management services, personal and business checking and savings accounts, certificates of deposit, individual retirement accounts, health savings accounts, register of deposit account certificates, insured cash transfers and demand deposit accounts.
Get a Free Copy of Zacks Research Report on Bank of Marin Bancorp (BMRC)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Bank of Marin Bancorp right now?
Before you consider Bank of Marin Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Bank of Marin Bancorp was not on the list.
While Bank of Marin Bancorp currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here