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

Posted by Adam Dyson on Jan 25th, 2023

Bank of Marin Bancorp (NASDAQ:BMRC – Get 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.