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

Bank of Marin Bancorp (NASDAQ:BMRC) posted its earnings results on Friday. The bank reported $0.59 EPS for the quarter, FiscalAI reports. Bank of Marin Bancorp had a negative net margin of 21.76% and a positive return on equity of 6.00%. The business had revenue of ($39.66) million for the quarter.

Bank of Marin Bancorp Price Performance

BMRC stock traded down $0.07 during mid-day trading on Friday, reaching $23.90. 61,089 shares of the company’s stock were exchanged, compared to its average volume of 102,753. The company has a market cap of $384.55 million, a price-to-earnings ratio of -10.62 and a beta of 0.89. Bank of Marin Bancorp has a 12-month low of $19.14 and a 12-month high of $28.48. The stock’s 50 day moving average is $26.32 and its 200 day moving average is $25.74.

Bank of Marin Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Thursday, February 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, February 5th. Bank of Marin Bancorp’s payout ratio is -44.44%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its position in shares of Bank of Marin Bancorp by 33.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after buying an additional 379 shares during the period. Quadrant Capital Group LLC increased its stake in Bank of Marin Bancorp by 17.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after acquiring an additional 407 shares during the last quarter. State of Wyoming increased its stake in Bank of Marin Bancorp by 2.8% during the fourth quarter. State of Wyoming now owns 15,885 shares of the bank’s stock worth $413,000 after acquiring an additional 433 shares during the last quarter. First Trust Advisors LP raised its position in Bank of Marin Bancorp by 7.1% in the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock valued at $241,000 after purchasing an additional 696 shares during the period. Finally, Ieq Capital LLC raised its position in Bank of Marin Bancorp by 11.9% in the fourth quarter. Ieq Capital LLC now owns 9,556 shares of the bank’s stock valued at $249,000 after purchasing an additional 1,015 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $29.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, January 27th. Piper Sandler reissued a “neutral” rating and issued a $30.50 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, January 27th. Wall Street Zen downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Zacks Research lowered Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and an average target price of $30.10.

About Bank of Marin Bancorp

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.