Bank of Marin Bancorp (BMRC) Expected to Post Quarterly Sales of $20.33 Million
Brokerages expect Bank of Marin Bancorp (NASDAQ:BMRC) to announce $20.33 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Bank of Marin Bancorp’s earnings. The lowest sales estimate is $20.1 million and the highest is $20.7 million. Bank of Marin Bancorp reported sales of $19.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next earnings results on Monday, July 24th.
On average, analysts expect that Bank of Marin Bancorp will report full year sales of $20.33 million for the current fiscal year, with estimates ranging from $80.88 million to $82.5 million. For the next fiscal year, analysts expect that the company will report sales of $87.1 million per share, with estimates ranging from $86.6 million to $87.6 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, April 24th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.06. Bank of Marin Bancorp had a net margin of 27.35% and a return on equity of 10.21%. The firm had revenue of $19.74 million during the quarter, compared to the consensus estimate of $20.17 million.
Several brokerages have issued reports on BMRC. FIG Partners raised their target price on Bank of Marin Bancorp from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 24th. Piper Jaffray Companies began coverage on Bank of Marin Bancorp in a research report on Wednesday, January 18th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Zacks Investment Research cut Bank of Marin Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, April 27th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Bank of Marin Bancorp during the first quarter valued at about $117,000. Acrospire Investment Management LLC boosted its position in shares of Bank of Marin Bancorp by 22.9% in the third quarter. Acrospire Investment Management LLC now owns 2,255 shares of the bank’s stock valued at $112,000 after buying an additional 420 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Bank of Marin Bancorp by 1.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,439 shares of the bank’s stock valued at $170,000 after buying an additional 31 shares during the last quarter. Main Street Research LLC purchased a new position in shares of Bank of Marin Bancorp during the fourth quarter valued at about $260,000. Finally, Bessemer Group Inc. boosted its position in shares of Bank of Marin Bancorp by 91.3% in the fourth quarter. Bessemer Group Inc. now owns 4,400 shares of the bank’s stock valued at $307,000 after buying an additional 2,100 shares during the last quarter. 40.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bank of Marin Bancorp (NASDAQ:BMRC) traded up 0.0780% during midday trading on Wednesday, reaching $63.9999. The company had a trading volume of 5,056 shares. The company has a 50 day moving average of $65.37 and a 200 day moving average of $65.50. The firm has a market capitalization of $389.89 million, a price-to-earnings ratio of 17.8322 and a beta of 0.81. Bank of Marin Bancorp has a 12-month low of $47.16 and a 12-month high of $75.05.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, May 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $1.08 annualized dividend and a yield of 1.69%. Bank of Marin Bancorp’s payout ratio is 28.50%.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. As of December 31, 2016, the Company operated through 20 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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