Zacks: Analysts Expect Bank of Marin Bancorp (NASDAQ:BMRC) to Announce $0.62 Earnings Per Share

Equities research analysts forecast that Bank of Marin Bancorp (NASDAQ:BMRC) will post $0.62 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Bank of Marin Bancorp’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.59. Bank of Marin Bancorp also reported earnings of $0.62 per share in the same quarter last year. The business is expected to report its next quarterly earnings results on Monday, October 28th.

According to Zacks, analysts expect that Bank of Marin Bancorp will report full-year earnings of $2.38 per share for the current year, with EPS estimates ranging from $2.31 to $2.43. For the next year, analysts expect that the company will post earnings of $2.54 per share, with EPS estimates ranging from $2.40 to $2.71. Zacks’ EPS averages are an average based on a survey of research firms that cover Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $26.06 million for the quarter, compared to the consensus estimate of $26.59 million. Bank of Marin Bancorp had a net margin of 31.30% and a return on equity of 10.70%.

BMRC has been the topic of several recent analyst reports. ValuEngine downgraded shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 5th. BidaskClub downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 24th.

In related news, EVP Peter Pelham sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.10, for a total transaction of $120,300.00. Following the transaction, the executive vice president now owns 9,857 shares of the company’s stock, valued at $395,265.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,391 shares of company stock worth $222,976 in the last three months. Insiders own 5.29% of the company’s stock.

A number of hedge funds have recently modified their holdings of BMRC. Susquehanna International Group LLP grew its holdings in Bank of Marin Bancorp by 955.1% during the 2nd quarter. Susquehanna International Group LLP now owns 62,493 shares of the bank’s stock valued at $2,563,000 after purchasing an additional 56,570 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Bank of Marin Bancorp during the 2nd quarter valued at $2,010,000. Morgan Stanley boosted its stake in Bank of Marin Bancorp by 84.1% during the 2nd quarter. Morgan Stanley now owns 85,161 shares of the bank’s stock valued at $3,493,000 after acquiring an additional 38,909 shares during the last quarter. Vanguard Group Inc. boosted its stake in Bank of Marin Bancorp by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 700,675 shares of the bank’s stock valued at $28,742,000 after acquiring an additional 6,089 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Bank of Marin Bancorp by 648.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,460 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,265 shares during the last quarter. 45.23% of the stock is owned by hedge funds and other institutional investors.

Shares of BMRC traded down $0.52 on Tuesday, hitting $40.97. 29,741 shares of the stock traded hands, compared to its average volume of 32,752. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $558.95 million, a P/E ratio of 17.58 and a beta of 0.57. The stock’s 50 day moving average is $41.67 and its two-hundred day moving average is $41.93. Bank of Marin Bancorp has a 1 year low of $38.00 and a 1 year high of $45.13.

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.

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

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