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

Bank of Marin Bancorp (NASDAQ:BMRC) released its quarterly earnings results on Monday. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.10), Yahoo Finance reports. Bank of Marin Bancorp had a net margin of 13.77% and a return on equity of 5.63%. The firm had revenue of $36.90 million for the quarter, compared to the consensus estimate of $26.90 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share.

Bank of Marin Bancorp Trading Down 0.6 %

Bank of Marin Bancorp stock opened at $14.36 on Wednesday. The business’s fifty day simple moving average is $16.10 and its two-hundred day simple moving average is $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 price-to-earnings ratio of 11.58 and a beta of 0.85.

Bank of Marin Bancorp Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend is Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 80.65%.

Analyst Upgrades and Downgrades

BMRC has been the topic of several research reports. DA Davidson dropped their price target on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday. Stephens dropped their price target on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday.

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.