Bank of Marin Bancorp (NASDAQ:BMRC) Issues Earnings Results, Misses Estimates By $0.10 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) announced its quarterly earnings data on Monday. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10), Yahoo Finance reports. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. The company had revenue of $36.90 million for the quarter, compared to analysts’ expectations of $26.90 million. During the same period last year, the business earned $0.59 earnings per share.

Bank of Marin Bancorp Stock Performance

Shares of Bank of Marin Bancorp stock opened at $14.36 on Wednesday. The company has a 50-day simple moving average of $16.10 and a two-hundred day simple moving average of $18.30. The company has a market capitalization of $234.07 million, a PE ratio of 17.30 and a beta of 0.85. Bank of Marin Bancorp has a one year low of $12.89 and a one year high of $23.24.

Bank of Marin Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. Bank of Marin Bancorp’s dividend payout ratio is presently 120.48%.

Wall Street Analyst Weigh In

BMRC has been the subject of a number of research analyst reports. DA Davidson cut their price objective on Bank of Marin Bancorp from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday. Stephens dropped their price target on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday.

About Bank of Marin Bancorp

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, not-for-profit organizations, and commercial real estate investors in the United States. The company 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.