Bank of Marin Bancorp (NASDAQ:BMRC) Announces Quarterly Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) released its quarterly earnings data on Monday. The bank reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01, MarketWatch Earnings reports. Bank of Marin Bancorp had a net margin of 33.05% and a return on equity of 11.54%. The business had revenue of $36.79 million during the quarter, compared to analyst estimates of $37.03 million.

Bank of Marin Bancorp Price Performance

BMRC stock opened at $29.90 on Wednesday. The company has a market capitalization of $479.30 million, a PE ratio of 10.99 and a beta of 0.76. Bank of Marin Bancorp has a 12 month low of $29.01 and a 12 month high of $38.74. The firm’s 50-day moving average is $33.31 and its 200 day moving average is $32.66.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.34%. The ex-dividend date is Thursday, February 2nd. Bank of Marin Bancorp’s dividend payout ratio is presently 36.76%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Bank of Marin Bancorp by 0.4% in the 3rd quarter. BlackRock Inc. now owns 1,132,128 shares of the bank’s stock worth $33,908,000 after buying an additional 4,099 shares during the period. The Manufacturers Life Insurance Company increased its stake in Bank of Marin Bancorp by 14.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 761,742 shares of the bank’s stock worth $26,714,000 after buying an additional 96,155 shares during the period. Dimensional Fund Advisors LP increased its stake in Bank of Marin Bancorp by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock worth $25,344,000 after buying an additional 21,712 shares during the period. State Street Corp increased its stake in Bank of Marin Bancorp by 1.1% in the 2nd quarter. State Street Corp now owns 404,846 shares of the bank’s stock worth $12,866,000 after buying an additional 4,372 shares during the period. Finally, Northern Trust Corp increased its stake in Bank of Marin Bancorp by 0.5% in the 2nd quarter. Northern Trust Corp now owns 151,766 shares of the bank’s stock worth $4,823,000 after buying an additional 827 shares during the period. Hedge funds and other institutional investors own 48.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BMRC shares. Stephens increased their price objective on shares of Bank of Marin Bancorp from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 25th. StockNews.com started coverage on shares of Bank of Marin Bancorp in a research report on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet upgraded shares of Bank of Marin Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 28th. DA Davidson increased their target price on shares of Bank of Marin Bancorp to $34.00 in a research note on Thursday, October 27th. Finally, Piper Sandler reduced their target price on shares of Bank of Marin Bancorp to $33.00 in a research note on Friday, September 30th.

About Bank of Marin Bancorp

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Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, professionals, not-for-profit organizations, and individuals in California, the United States. It offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry and insured cash sweep services.