Bank of Marin Bancorp (NASDAQ:BMRC) Announces Earnings Results, Beats Expectations By $0.01 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) posted its earnings results on Monday. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Yahoo Finance reports. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The company had revenue of $39.21 million during the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter in the prior year, the company posted $0.33 earnings per share.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC opened at $22.90 on Wednesday. The firm has a market capitalization of $372.95 million, a P/E ratio of 27.59 and a beta of 0.92. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.24. The company’s fifty day moving average price is $20.81 and its 200-day moving average price is $18.21.

Bank of Marin Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.37%. Bank of Marin Bancorp’s payout ratio is currently 120.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BMRC shares. DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

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.