Wall Street analysts forecast that Bank of Marin Bancorp (NASDAQ:BMRC) will post earnings of $0.62 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of Marin Bancorp’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.68. Bank of Marin Bancorp posted earnings per share of $0.46 during the same quarter last year, which indicates a positive year-over-year growth rate of 34.8%. The business is expected to report its next quarterly earnings report on Monday, July 19th.
On average, analysts expect that Bank of Marin Bancorp will report full year earnings of $1.87 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $2.45. For the next financial year, analysts anticipate that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $1.85 to $2.53. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Sunday, April 18th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.12. The business had revenue of $23.86 million during the quarter, compared to analyst estimates of $25.80 million. Bank of Marin Bancorp had a return on equity of 8.67% and a net margin of 30.34%.
Shares of Bank of Marin Bancorp stock traded down $0.73 during trading on Thursday, hitting $32.78. 26,559 shares of the stock traded hands, compared to its average volume of 48,924. The company has a market capitalization of $433.02 million, a PE ratio of 14.02 and a beta of 0.84. Bank of Marin Bancorp has a twelve month low of $27.26 and a twelve month high of $42.19. The business’s fifty day moving average is $36.00.
The business also recently announced a quarterly dividend, which was paid on Friday, May 7th. Investors of record on Friday, April 30th were issued a $0.23 dividend. The ex-dividend date was Thursday, April 29th. This represents a $0.92 annualized dividend and a yield of 2.81%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 43.19%.
In related news, Director James C. Hale III bought 5,000 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, April 22nd. The stock was purchased at an average cost of $35.76 per share, for a total transaction of $178,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.66% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC increased its position in Bank of Marin Bancorp by 99.7% in the 1st quarter. Citadel Advisors LLC now owns 43,044 shares of the bank’s stock worth $1,686,000 after buying an additional 21,492 shares during the period. Man Group plc increased its position in Bank of Marin Bancorp by 13.9% in the 1st quarter. Man Group plc now owns 16,418 shares of the bank’s stock worth $643,000 after buying an additional 2,000 shares during the period. Jane Street Group LLC bought a new position in Bank of Marin Bancorp in the 1st quarter worth approximately $322,000. Royal Bank of Canada increased its position in Bank of Marin Bancorp by 23.5% in the 1st quarter. Royal Bank of Canada now owns 5,580 shares of the bank’s stock worth $218,000 after buying an additional 1,062 shares during the period. Finally, HRT Financial LP bought a new position in Bank of Marin Bancorp in the 1st quarter worth approximately $1,294,000. 44.61% of the stock is currently owned by institutional investors.
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 San Francisco Bay Area, California in 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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