Bank of Marin Bancorp (NASDAQ:BMRC) Issues Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRCGet Rating) released its quarterly earnings results on Monday. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01, MarketWatch Earnings reports. Bank of Marin Bancorp had a return on equity of 11.54% and a net margin of 33.05%. The company had revenue of $36.79 million for the quarter, compared to analysts’ expectations of $37.03 million.

Bank of Marin Bancorp Price Performance

NASDAQ:BMRC opened at $29.90 on Wednesday. Bank of Marin Bancorp has a 12 month low of $29.01 and a 12 month high of $38.74. The firm has a market capitalization of $479.30 million, a PE ratio of 10.99 and a beta of 0.76. The business’s fifty day moving average price is $33.31 and its 200 day moving average price is $32.66.

Bank of Marin Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BMRC shares. TheStreet raised Bank of Marin Bancorp from a “c+” rating to a “b” rating in a research note on Friday, October 28th. DA Davidson increased their price target on shares of Bank of Marin Bancorp to $34.00 in a research report on Thursday, October 27th. Piper Sandler dropped their price objective on shares of Bank of Marin Bancorp to $33.00 in a report on Friday, September 30th. Stephens increased their target price on shares of Bank of Marin Bancorp from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 25th. Finally, StockNews.com assumed coverage on shares of Bank of Marin Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Institutional Trading of Bank of Marin Bancorp

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Bank of Marin Bancorp by 14.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 761,742 shares of the bank’s stock worth $26,714,000 after acquiring an additional 96,155 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bank of Marin Bancorp by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock worth $25,344,000 after purchasing an additional 21,712 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Bank of Marin Bancorp during the third quarter worth approximately $412,000. First Trust Advisors LP increased its stake in Bank of Marin Bancorp by 42.6% in the third quarter. First Trust Advisors LP now owns 43,574 shares of the bank’s stock valued at $1,305,000 after purchasing an additional 13,012 shares during the period. Finally, Citadel Advisors LLC increased its position in Bank of Marin Bancorp by 16.5% in the 3rd quarter. Citadel Advisors LLC now owns 79,803 shares of the bank’s stock valued at $2,390,000 after acquiring an additional 11,301 shares during the period. 48.88% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

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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.

Further Reading

Earnings History for Bank of Marin Bancorp (NASDAQ:BMRC)

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