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

Bank of Marin Bancorp (NASDAQ:BMRC) issued its earnings results on Monday. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01, Yahoo Finance reports. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The firm had revenue of $39.21 million for the quarter, compared to analysts’ expectations of $27.30 million. During the same quarter last year, the company earned $0.33 earnings per share.

Bank of Marin Bancorp Price Performance

Shares of BMRC opened at $22.90 on Wednesday. The firm has a fifty day moving average price of $20.81 and a 200 day moving average price of $18.21. The stock has a market cap of $372.95 million, a PE ratio of 27.59 and a beta of 0.92. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $23.24.

Bank of Marin Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, November 7th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 120.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BMRC shares. Keefe, Bruyette & Woods lifted 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 research report on Wednesday, July 31st. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, October 10th.

About Bank of Marin Bancorp

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.