Bank of Marin Bancorp (NASDAQ:BMRC) – Analysts at Piper Jaffray Companies dropped their Q4 2018 earnings estimates for Bank of Marin Bancorp in a report released on Monday, December 3rd. Piper Jaffray Companies analyst M. Clark now anticipates that the bank will post earnings of $0.59 per share for the quarter, down from their previous forecast of $0.60. Piper Jaffray Companies also issued estimates for Bank of Marin Bancorp’s Q4 2019 earnings at $0.68 EPS, Q1 2020 earnings at $0.62 EPS and Q3 2020 earnings at $0.70 EPS.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $25.78 million during the quarter, compared to analysts’ expectations of $25.33 million. Bank of Marin Bancorp had a return on equity of 9.33% and a net margin of 24.21%.
BMRC has been the subject of a number of other research reports. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $45.50 price objective for the company in a research report on Wednesday, October 24th. ValuEngine cut Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 28th. Finally, BidaskClub upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Bank of Marin Bancorp presently has a consensus rating of “Hold” and an average target price of $43.20.
Bank of Marin Bancorp stock opened at $39.75 on Tuesday. The stock has a market cap of $595.51 million, a P/E ratio of 24.24, a P/E/G ratio of 2.75 and a beta of 0.59. Bank of Marin Bancorp has a 52 week low of $31.75 and a 52 week high of $45.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.87 and a quick ratio of 0.87.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Thursday, November 1st were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.76%. The ex-dividend date was Wednesday, October 31st. Bank of Marin Bancorp’s dividend payout ratio (DPR) is 42.68%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position 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 valued at $15,428,000 after buying an additional 27,399 shares during the period. BlackRock Inc. raised its position in Bank of Marin Bancorp by 3.8% during the second quarter. BlackRock Inc. now owns 561,294 shares of the bank’s stock valued at $45,381,000 after buying an additional 20,350 shares during the period. Assenagon Asset Management S.A. acquired a new position in Bank of Marin Bancorp during the third quarter valued at $1,553,000. Bank of America Corp DE raised its position in Bank of Marin Bancorp by 382.0% during the second quarter. Bank of America Corp DE now owns 16,045 shares of the bank’s stock valued at $1,298,000 after buying an additional 12,716 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Bank of Marin Bancorp during the second quarter valued at $915,000. Institutional investors own 43.90% of the company’s stock.
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 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.
Recommended Story: Cost of Capital
Receive News & Ratings for Bank of Marin Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Marin Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.