$0.83 EPS Expected for Bank of Marin Bancorp (BMRC) This Quarter
Wall Street analysts expect that Bank of Marin Bancorp (NASDAQ:BMRC) will announce $0.83 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bank of Marin Bancorp’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.78. Bank of Marin Bancorp reported earnings per share of $1.14 during the same quarter last year, which would indicate a negative year over year growth rate of 27.2%. The company is scheduled to issue its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Bank of Marin Bancorp will report full-year earnings of $3.28 per share for the current fiscal year, with EPS estimates ranging from $3.15 to $3.36. For the next fiscal year, analysts forecast that the firm will report earnings of $3.56 per share, with EPS estimates ranging from $3.33 to $3.70. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Bank of Marin Bancorp.
Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, July 24th. The bank reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The firm had revenue of $20.40 million for the quarter, compared to analysts’ expectations of $20.33 million. Bank of Marin Bancorp had a net margin of 26.72% and a return on equity of 9.55%.
Several research firms have recently issued reports on BMRC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 price target on shares of Bank of Marin Bancorp in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Monday, September 25th. BidaskClub raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Piper Jaffray Companies set a $68.00 target price on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a report on Sunday, July 30th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.00.
A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Bank of Marin Bancorp by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 244,158 shares of the bank’s stock worth $15,028,000 after acquiring an additional 4,688 shares during the period. Vanguard Group Inc. increased its holdings in Bank of Marin Bancorp by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 223,925 shares of the bank’s stock worth $13,782,000 after acquiring an additional 10,713 shares during the period. Renaissance Technologies LLC increased its holdings in Bank of Marin Bancorp by 6.2% during the 1st quarter. Renaissance Technologies LLC now owns 123,800 shares of the bank’s stock worth $7,967,000 after acquiring an additional 7,280 shares during the period. State Street Corp increased its holdings in Bank of Marin Bancorp by 0.4% during the 2nd quarter. State Street Corp now owns 102,879 shares of the bank’s stock worth $6,328,000 after acquiring an additional 396 shares during the period. Finally, Northern Trust Corp increased its holdings in Bank of Marin Bancorp by 6.3% during the 2nd quarter. Northern Trust Corp now owns 88,886 shares of the bank’s stock worth $5,471,000 after acquiring an additional 5,300 shares during the period. 42.39% of the stock is currently owned by institutional investors and hedge funds.
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Bank of Marin Bancorp (BMRC) opened at 70.85 on Tuesday. Bank of Marin Bancorp has a 12-month low of $49.50 and a 12-month high of $75.05. The company has a market capitalization of $432.89 million, a PE ratio of 19.48 and a beta of 0.88. The firm has a 50-day moving average of $67.56 and a 200 day moving average of $64.75.
About Bank of Marin Bancorp
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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