FY2024 Earnings Forecast for Bank of Marin Bancorp (NASDAQ:BMRC) Issued By DA Davidson

Bank of Marin Bancorp (NASDAQ:BMRC) – Stock analysts at DA Davidson lowered their FY2024 earnings estimates for shares of Bank of Marin Bancorp in a report issued on Thursday, August 1st. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings per share of ($0.70) for the year, down from their prior forecast of $0.80. DA Davidson currently has a “Neutral” rating and a $15.00 price target on the stock. The consensus estimate for Bank of Marin Bancorp’s current full-year earnings is $0.82 per share.

BMRC has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price objective 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. Stephens reissued an “equal weight” rating and set a $16.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, June 27th.

Bank of Marin Bancorp Stock Up 0.9 %

Shares of NASDAQ:BMRC opened at $18.07 on Monday. Bank of Marin Bancorp has a 12 month low of $14.11 and a 12 month high of $23.24. The company’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $16.88. The firm has a market cap of $294.36 million, a P/E ratio of 21.95 and a beta of 0.93.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its earnings results on Monday, July 29th. The bank reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). 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 for the quarter, compared to analyst estimates of $25.85 million. During the same quarter last year, the business earned $0.28 EPS.

Bank of Marin Bancorp Dividend Announcement

The firm 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 5.53%. The ex-dividend date is Thursday, August 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMRC. SG Americas Securities LLC boosted its stake in shares of Bank of Marin Bancorp by 29.7% in the 4th quarter. SG Americas Securities LLC now owns 9,196 shares of the bank’s stock valued at $202,000 after purchasing an additional 2,105 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at about $430,000. Perigon Wealth Management LLC raised its position in shares of Bank of Marin Bancorp by 1.9% in the 4th quarter. Perigon Wealth Management LLC now owns 64,005 shares of the bank’s stock valued at $1,409,000 after acquiring an additional 1,201 shares during the period. Private Wealth Partners LLC raised its position in shares of Bank of Marin Bancorp by 2.7% in the 4th quarter. Private Wealth Partners LLC now owns 36,983 shares of the bank’s stock valued at $814,000 after acquiring an additional 983 shares during the period. Finally, Wealthspire Advisors LLC acquired a new stake in shares of Bank of Marin Bancorp in the 4th quarter valued at approximately $355,000. Institutional investors own 52.26% of the company’s stock.

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.