Bank of Marin Bancorp (NASDAQ:BMRC) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) posted its quarterly earnings results on Monday. The bank reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10), Yahoo Finance reports. The business had revenue of $36.90 million for the quarter, compared to analyst estimates of $26.90 million. Bank of Marin Bancorp had a return on equity of 5.63% and a net margin of 13.77%. During the same period last year, the firm posted $0.59 EPS.

Bank of Marin Bancorp Trading Down 0.6 %

Bank of Marin Bancorp stock opened at $14.36 on Wednesday. The stock has a 50-day moving average price of $16.10 and a two-hundred day moving average price of $18.30. Bank of Marin Bancorp has a 12 month low of $12.89 and a 12 month high of $23.24. The company has a market capitalization of $234.07 million, a PE ratio of 11.58 and a beta of 0.85.

Bank of Marin Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 6.96%. Bank of Marin Bancorp’s payout ratio is presently 80.65%.

Analyst Upgrades and Downgrades

BMRC has been the topic of a number of recent analyst reports. DA Davidson lowered their target price on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday. Stephens decreased their price target on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday.

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.