Bank of Marin Bancorp (NASDAQ:BMRC) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

by · The Markets Daily

Bank of Marin Bancorp (NASDAQ:BMRC – Get Free Report) announced its quarterly earnings data on Monday. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.09, FiscalAI reports. Bank of Marin Bancorp had a return on equity of 5.25% and a net margin of 6.22%.The business had revenue of ($35.47) million during the quarter, compared to analyst estimates of $32.96 million.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $27.40 on Monday. Bank of Marin Bancorp has a one year low of $19.14 and a one year high of $28.48. The stock has a market cap of $440.82 million, a P/E ratio of 44.19 and a beta of 0.86. The stock’s fifty day moving average is $26.66 and its 200 day moving average is $25.13.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BMRC. Wall Street Zen raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. DA Davidson boosted their price target on shares of Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. UBS Group set a $30.00 price objective on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research upgraded shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Get Our Latest Stock Report on Bank of Marin Bancorp

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in Bank of Marin Bancorp by 7.1% during the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after acquiring an additional 696 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Bank of Marin Bancorp by 124.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock valued at $43,000 after acquiring an additional 1,040 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares during the period. BNP Paribas Financial Markets grew its position in shares of Bank of Marin Bancorp by 88.2% during the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after buying an additional 1,356 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Bank of Marin Bancorp by 8.3% in the first quarter. Empowered Funds LLC now owns 25,775 shares of the bank’s stock valued at $569,000 after acquiring an additional 1,981 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

(Get Free Report)

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.

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