Zacks: Brokerages Anticipate Bank of Marin Bancorp (NASDAQ:BMRC) to Post $0.66 Earnings Per Share

Wall Street brokerages expect Bank of Marin Bancorp (NASDAQ:BMRCGet Rating) to post earnings per share of $0.66 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Bank of Marin Bancorp’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.69. Bank of Marin Bancorp posted earnings per share of $0.71 in the same quarter last year, which would suggest a negative year over year growth rate of 7%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Bank of Marin Bancorp will report full year earnings of $2.77 per share for the current financial year, with EPS estimates ranging from $2.69 to $2.91. For the next year, analysts anticipate that the firm will report earnings of $2.96 per share, with EPS estimates ranging from $2.88 to $3.00. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRCGet Rating) last posted its quarterly earnings results on Monday, April 25th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. Bank of Marin Bancorp had a net margin of 27.54% and a return on equity of 9.50%. The firm had revenue of $32.77 million during the quarter, compared to analyst estimates of $32.77 million. During the same quarter in the prior year, the business posted $0.66 earnings per share.

BMRC has been the topic of several recent analyst reports. TheStreet lowered Bank of Marin Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, March 16th. StockNews.com assumed coverage on shares of Bank of Marin Bancorp in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Bank of Marin Bancorp has an average rating of “Hold” and an average target price of $42.00.

BMRC stock traded up $0.34 during trading on Friday, hitting $33.24. The company had a trading volume of 47,407 shares, compared to its average volume of 45,223. The company has a fifty day moving average price of $32.81 and a two-hundred day moving average price of $35.33. The company has a market cap of $531.74 million, a P/E ratio of 14.27 and a beta of 0.76. Bank of Marin Bancorp has a fifty-two week low of $30.05 and a fifty-two week high of $39.65.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, May 6th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, May 5th. Bank of Marin Bancorp’s dividend payout ratio is currently 41.20%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Bank of Marin Bancorp in the 1st quarter valued at about $75,000. DeDora Capital Inc. acquired a new position in Bank of Marin Bancorp during the 1st quarter worth $100,000. Captrust Financial Advisors increased its position in Bank of Marin Bancorp by 54.9% in the first quarter. Captrust Financial Advisors now owns 3,172 shares of the bank’s stock worth $111,000 after purchasing an additional 1,124 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bank of Marin Bancorp by 114.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,785 shares of the bank’s stock worth $141,000 after purchasing an additional 2,020 shares during the period. Finally, Phocas Financial Corp. acquired a new stake in Bank of Marin Bancorp in the third quarter worth about $217,000. Hedge funds and other institutional investors own 51.43% of the company’s stock.

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

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