Bank of Marin Bancorp (NASDAQ:BMRC) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) posted its quarterly earnings results on Monday. The bank reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10), Yahoo Finance reports. The company had revenue of $36.90 million during the quarter, compared to the consensus estimate of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. During the same quarter in the prior year, the business earned $0.59 earnings per share.

Bank of Marin Bancorp Stock Performance

NASDAQ BMRC opened at $14.81 on Thursday. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24. The stock has a market cap of $241.40 million, a PE ratio of 17.84 and a beta of 0.85. The firm has a 50-day moving average of $16.05 and a 200-day moving average of $18.28.

Bank of Marin Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Wednesday, May 8th. Bank of Marin Bancorp’s payout ratio is presently 120.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stephens cut their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday. DA Davidson decreased their price objective on shares of Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday.

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 small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company 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.