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

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) posted its quarterly earnings data on Monday. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01, MarketWatch Earnings reports. The firm had revenue of $36.79 million during the quarter, compared to analysts’ expectations of $37.03 million. Bank of Marin Bancorp had a return on equity of 10.69% and a net margin of 31.43%.

Bank of Marin Bancorp Trading Down 3.5 %

Shares of NASDAQ BMRC opened at $29.90 on Wednesday. Bank of Marin Bancorp has a twelve month low of $29.01 and a twelve month high of $38.74. The company has a market capitalization of $479.27 million, a price-to-earnings ratio of 10.99 and a beta of 0.76. The business has a 50 day simple moving average of $33.31 and a 200-day simple moving average of $32.66.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, February 3rd will be issued a $0.25 dividend. The ex-dividend date is Thursday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.34%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 36.76%.

Wall Street Analyst Weigh In

BMRC has been the subject of a number of recent research reports. StockNews.com initiated coverage on Bank of Marin Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler lowered their price target on Bank of Marin Bancorp to $33.00 in a report on Friday, September 30th. TheStreet upgraded Bank of Marin Bancorp from a “c+” rating to a “b” rating in a report on Friday, October 28th. DA Davidson boosted their target price on Bank of Marin Bancorp to $34.00 in a report on Thursday, October 27th. Finally, Stephens boosted their price target on Bank of Marin Bancorp from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC grew its stake in Bank of Marin Bancorp by 0.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 69,082 shares of the bank’s stock worth $2,069,000 after buying an additional 312 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Bank of Marin Bancorp by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock worth $259,000 after purchasing an additional 486 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Bank of Marin Bancorp by 25.9% in the second quarter. Captrust Financial Advisors now owns 3,992 shares of the bank’s stock worth $127,000 after purchasing an additional 820 shares in the last quarter. Northern Trust Corp grew its stake in shares of Bank of Marin Bancorp by 0.5% in the second quarter. Northern Trust Corp now owns 151,766 shares of the bank’s stock worth $4,823,000 after purchasing an additional 827 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Bank of Marin Bancorp by 2.4% in the first quarter. Goldman Sachs Group Inc. now owns 37,368 shares of the bank’s stock worth $1,311,000 after purchasing an additional 873 shares in the last quarter. 48.88% of the stock is currently owned by institutional investors.

About Bank of Marin Bancorp

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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, professionals, not-for-profit organizations, and individuals in California, the United States. It 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.