Bank of Marin Bancorp (NASDAQ:BMRC) Issues Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC) issued its earnings results on Monday. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06, FiscalAI reports. Bank of Marin Bancorp had a negative net margin of 18.58% and a positive return on equity of 7.20%. The business had revenue of $33.95 million for the quarter, compared to the consensus estimate of $34.02 million.

Bank of Marin Bancorp Trading Up 0.2%

Shares of Bank of Marin Bancorp stock opened at $28.84 on Monday. Bank of Marin Bancorp has a fifty-two week low of $21.77 and a fifty-two week high of $30.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $466.92 million, a price-to-earnings ratio of -14.28 and a beta of 0.81. The stock has a 50 day moving average of $26.99 and a 200 day moving average of $26.35.

Hedge Funds Weigh In On Bank of Marin Bancorp

Several institutional investors have recently bought and sold shares of BMRC. First Trust Advisors LP boosted its position in shares of Bank of Marin Bancorp by 7.1% during the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after acquiring an additional 696 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Bank of Marin Bancorp in the fourth quarter valued at about $230,000. Occudo Quantitative Strategies LP acquired a new stake in Bank of Marin Bancorp during the 3rd quarter worth approximately $224,000. Sei Investments Co. purchased a new position in shares of Bank of Marin Bancorp in the 3rd quarter valued at approximately $221,000. Finally, Blair William & Co. IL purchased a new position in shares of Bank of Marin Bancorp in the 4th quarter valued at approximately $204,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BMRC. Piper Sandler reduced their price objective on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Stephens restated an “equal weight” rating and issued a $26.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, May 5th. Zacks Research raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. DA Davidson dropped their price target on Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, Wall Street Zen raised Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Bank of Marin Bancorp currently has a consensus rating of “Hold” and a consensus price target of $28.40.

Bank of Marin Bancorp Company Profile

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.