Bank of Marin Bancorp (BMRC) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) announced its quarterly earnings results on Monday. The bank reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.06), Morningstar.com reports. Bank of Marin Bancorp had a return on equity of 8.85% and a net margin of 24.74%.

Shares of Bank of Marin Bancorp (BMRC) traded down $1.65 on Monday, reaching $69.85. 41,424 shares of the company’s stock were exchanged, compared to its average volume of 23,629. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $431.53, a PE ratio of 20.98, a P/E/G ratio of 1.69 and a beta of 0.80. Bank of Marin Bancorp has a twelve month low of $59.05 and a twelve month high of $77.90.

In related news, Director Leslie E. Murphy acquired 3,676 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average price of $68.00 per share, with a total value of $249,968.00. Following the transaction, the director now directly owns 3,936 shares of the company’s stock, valued at $267,648. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Bowling Portfolio Management LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $925,000. First Manhattan Co. bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $342,000. Schwab Charles Investment Management Inc. boosted its position in shares of Bank of Marin Bancorp by 30.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 12,571 shares of the bank’s stock worth $855,000 after purchasing an additional 2,971 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Bank of Marin Bancorp by 479.8% during the 4th quarter. Bank of Montreal Can now owns 13,278 shares of the bank’s stock worth $903,000 after purchasing an additional 10,988 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of Bank of Marin Bancorp by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 68,392 shares of the bank’s stock worth $4,651,000 after purchasing an additional 1,373 shares in the last quarter. 46.15% of the stock is currently owned by institutional investors.

Several research analysts have recently issued reports on BMRC shares. BidaskClub downgraded shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, January 5th. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research report on Wednesday, October 25th. DA Davidson reaffirmed a “hold” rating and set a $72.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $75.00 price target on shares of Bank of Marin Bancorp in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $74.00 price target on shares of Bank of Marin Bancorp in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Bank of Marin Bancorp presently has a consensus rating of “Hold” and a consensus target price of $73.80.

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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. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.

Earnings History for Bank of Marin Bancorp (NASDAQ:BMRC)

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