Bank of Marin Bancorp (NASDAQ:BMRC) Releases Earnings Results, Misses Expectations By $0.13 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) announced its quarterly earnings data on Monday. The bank reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13), Yahoo Finance reports. Bank of Marin Bancorp had a positive return on equity of 3.26% and a negative net margin of 9.09%. The firm had revenue of $37.12 million during the quarter, compared to analysts’ expectations of $25.85 million. During the same period last year, the company earned $0.28 earnings per share.

Bank of Marin Bancorp Trading Up 8.7 %

Shares of BMRC opened at $21.32 on Wednesday. Bank of Marin Bancorp has a twelve month low of $14.11 and a twelve month high of $23.24. The company has a market cap of $347.30 million, a P/E ratio of 25.69 and a beta of 0.93. The company’s fifty day simple moving average is $16.91 and its 200-day simple moving average is $16.91.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio is currently 120.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BMRC shares. Stephens restated an “equal weight” rating and set a $16.00 target price on shares of Bank of Marin Bancorp in a research report on Thursday, June 27th. DA Davidson dropped their target price on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 target price on shares of Bank of Marin Bancorp in a research report on Friday, June 28th.

Bank of Marin Bancorp Company Profile

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.