FY2018 EPS Estimates for Bank of Marin Bancorp (BMRC) Reduced by Piper Jaffray Companies

Bank of Marin Bancorp (NASDAQ:BMRC) – Analysts at Piper Jaffray Companies dropped their FY2018 earnings per share (EPS) estimates for Bank of Marin Bancorp in a report issued on Thursday, November 1st. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will post earnings of $4.45 per share for the year, down from their previous forecast of $4.54. Piper Jaffray Companies has a “Hold” rating and a $86.00 price target on the stock. Piper Jaffray Companies also issued estimates for Bank of Marin Bancorp’s Q4 2018 earnings at $1.19 EPS.

Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Wednesday, October 24th. Finally, DA Davidson increased their target price on shares of Bank of Marin Bancorp to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Bank of Marin Bancorp presently has an average rating of “Hold” and an average price target of $85.40.

Shares of BMRC stock opened at $85.20 on Monday. The stock has a market capitalization of $602.07 million, a PE ratio of 25.98, a PEG ratio of 2.74 and a beta of 0.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.86 and a quick ratio of 0.86. Bank of Marin Bancorp has a one year low of $63.50 and a one year high of $90.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings data on Monday, October 22nd. The bank reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $25.78 million for the quarter, compared to the consensus estimate of $25.33 million. Bank of Marin Bancorp had a net margin of 24.21% and a return on equity of 9.40%.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, November 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.64%. This is an increase from Bank of Marin Bancorp’s previous quarterly dividend of $0.32. Bank of Marin Bancorp’s dividend payout ratio is currently 42.68%.

In other news, insider Peter Pelham sold 1,672 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $88.44, for a total value of $147,871.68. Following the completion of the sale, the insider now owns 9,556 shares in the company, valued at $845,132.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Bank of Marin Bancorp by 3.8% during the second quarter. BlackRock Inc. now owns 561,294 shares of the bank’s stock worth $45,381,000 after buying an additional 20,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of Marin Bancorp by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 190,824 shares of the bank’s stock worth $15,428,000 after buying an additional 27,399 shares during the last quarter. Northern Trust Corp increased its holdings in Bank of Marin Bancorp by 6.0% during the second quarter. Northern Trust Corp now owns 87,460 shares of the bank’s stock worth $7,071,000 after buying an additional 4,956 shares during the last quarter. Millennium Management LLC increased its holdings in Bank of Marin Bancorp by 7.7% during the first quarter. Millennium Management LLC now owns 82,912 shares of the bank’s stock worth $5,717,000 after buying an additional 5,950 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in Bank of Marin Bancorp by 1.4% during the third quarter. Confluence Investment Management LLC now owns 73,284 shares of the bank’s stock worth $6,149,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 44.74% of the company’s stock.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

Read More: Balance Sheet

Earnings History and Estimates for Bank of Marin Bancorp (NASDAQ:BMRC)

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