Brokerages expect Bank of Marin Bancorp (NASDAQ:BMRC) to post $23.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Bank of Marin Bancorp’s earnings, with the highest sales estimate coming in at $23.90 million and the lowest estimate coming in at $22.82 million. Bank of Marin Bancorp posted sales of $19.74 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.9%. The company is scheduled to announce its next earnings report before the market opens on Monday, April 23rd.
According to Zacks, analysts expect that Bank of Marin Bancorp will report full year sales of $23.27 million for the current financial year, with estimates ranging from $93.28 million to $97.30 million. For the next financial year, analysts expect that the business will report sales of $101.68 million per share, with estimates ranging from $99.64 million to $102.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, January 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). The firm had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.10 million. Bank of Marin Bancorp had a net margin of 18.83% and a return on equity of 8.10%.
A number of analysts have recently issued reports on BMRC shares. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Monday, December 25th. BidaskClub cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Piper Jaffray restated a “hold” rating and set a $75.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 9th. ValuEngine upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $74.00 price objective on shares of Bank of Marin Bancorp in a research report on Friday, December 22nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Bank of Marin Bancorp has a consensus rating of “Hold” and a consensus target price of $74.75.
Shares of BMRC traded down $1.60 on Monday, reaching $69.35. 48,415 shares of the stock traded hands, compared to its average volume of 26,265. The stock has a market cap of $494.55, a PE ratio of 21.14, a P/E/G ratio of 1.59 and a beta of 0.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.02. Bank of Marin Bancorp has a 12 month low of $59.05 and a 12 month high of $77.90.
In related news, CEO Russell A. Colombo sold 911 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $68.00, for a total value of $61,948.00. Following the sale, the chief executive officer now owns 26,133 shares of the company’s stock, valued at approximately $1,777,044. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.17% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Bank of Marin Bancorp by 12.3% in the fourth quarter. BlackRock Inc. now owns 525,495 shares of the bank’s stock worth $35,733,000 after purchasing an additional 57,520 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Bank of Marin Bancorp by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 245,277 shares of the bank’s stock worth $16,678,000 after purchasing an additional 771 shares in the last quarter. Banc Funds Co. LLC boosted its stake in Bank of Marin Bancorp by 24.4% in the fourth quarter. Banc Funds Co. LLC now owns 183,304 shares of the bank’s stock worth $12,465,000 after purchasing an additional 35,939 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Bank of Marin Bancorp by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 144,500 shares of the bank’s stock worth $9,826,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bank of Marin Bancorp by 37.4% in the third quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock worth $7,660,000 after purchasing an additional 30,461 shares in the last quarter. 42.57% of the stock is currently owned by institutional investors.
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About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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