Wall Street brokerages predict that Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) will announce sales of $32.77 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Bank of Marin Bancorp’s earnings. The lowest sales estimate is $32.20 million and the highest is $33.40 million. Bank of Marin Bancorp reported sales of $23.86 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Bank of Marin Bancorp will report full-year sales of $131.33 million for the current fiscal year, with estimates ranging from $130.10 million to $132.50 million. For the next financial year, analysts expect that the company will post sales of $137.57 million, with estimates ranging from $135.40 million to $139.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last issued its quarterly earnings results on Monday, January 24th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.09. Bank of Marin Bancorp had a net margin of 28.04% and a return on equity of 9.44%. The company had revenue of $33.35 million for the quarter, compared to analyst estimates of $32.50 million. During the same period in the prior year, the firm earned $0.60 earnings per share.
In other news, Director Russell A. Colombo sold 7,113 shares of the company’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $37.12, for a total value of $264,034.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.59% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. grew its position in Bank of Marin Bancorp by 4.9% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 8,690 shares of the bank’s stock worth $328,000 after purchasing an additional 402 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in shares of Bank of Marin Bancorp by 4.7% during the fourth quarter. Dana Investment Advisors Inc. now owns 10,489 shares of the bank’s stock worth $391,000 after buying an additional 474 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Bank of Marin Bancorp by 3.9% during the fourth quarter. New York State Common Retirement Fund now owns 12,913 shares of the bank’s stock worth $481,000 after buying an additional 483 shares during the last quarter. UBS Group AG increased its position in Bank of Marin Bancorp by 9.5% in the 3rd quarter. UBS Group AG now owns 6,269 shares of the bank’s stock valued at $237,000 after acquiring an additional 543 shares during the period. Finally, Strs Ohio raised its stake in Bank of Marin Bancorp by 350.0% during the 3rd quarter. Strs Ohio now owns 900 shares of the bank’s stock valued at $33,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 47.72% of the company’s stock.
Shares of BMRC opened at $32.02 on Monday. The stock has a market cap of $512.35 million, a P/E ratio of 13.74 and a beta of 0.73. Bank of Marin Bancorp has a fifty-two week low of $30.69 and a fifty-two week high of $39.70. The business’s 50 day simple moving average is $34.94.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Stockholders of record on Friday, February 4th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. Bank of Marin Bancorp’s dividend payout ratio is currently 41.20%.
About Bank of Marin Bancorp (Get Rating)
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.
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