Bank of Marin Bancorp (BMRC) Expected to Post Quarterly Sales of $23.27 Million

Analysts expect that Bank of Marin Bancorp (NASDAQ:BMRC) will post $23.27 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Bank of Marin Bancorp’s earnings, with the lowest sales estimate coming in at $22.82 million and the highest estimate coming in at $23.90 million. Bank of Marin Bancorp reported sales of $19.74 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The company is scheduled to issue its next quarterly earnings results on Monday, April 23rd.

According to Zacks, analysts expect that Bank of Marin Bancorp will report full-year sales of $23.27 million for the current year, with estimates ranging from $93.28 million to $97.30 million. For the next year, analysts anticipate that the firm will report sales of $101.68 million per share, with estimates ranging from $99.64 million to $102.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.06). Bank of Marin Bancorp had a return on equity of 8.57% and a net margin of 18.83%. The business had revenue of $22.13 million for the quarter, compared to the consensus estimate of $22.10 million.

A number of equities analysts recently commented on BMRC shares. Zacks Investment Research upgraded Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Monday, December 25th. BidaskClub upgraded shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Piper Jaffray Companies set a $72.00 price objective on shares of Bank of Marin Bancorp and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Keefe, Bruyette & Woods restated a “hold” rating and set a $74.00 price objective on shares of Bank of Marin Bancorp in a research report on Friday, December 22nd. Finally, DA Davidson restated a “hold” rating and set a $72.00 price objective on shares of Bank of Marin Bancorp in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.75.

In related news, Director Leslie E. Murphy acquired 3,676 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average cost of $68.00 per share, for a total transaction of $249,968.00. Following the completion of the transaction, the director now directly owns 3,936 shares of the company’s stock, valued at approximately $267,648. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.17% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Bank of Marin Bancorp by 12.3% during the fourth quarter. BlackRock Inc. now owns 525,495 shares of the bank’s stock worth $35,733,000 after acquiring an additional 57,520 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Bank of Marin Bancorp by 0.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 245,277 shares of the bank’s stock worth $16,678,000 after acquiring an additional 771 shares during the last quarter. Vanguard Group Inc. lifted its position in Bank of Marin Bancorp by 5.0% during the second 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 last quarter. Sei Investments Co. acquired a new stake in Bank of Marin Bancorp during the third quarter worth approximately $8,794,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Bank of Marin Bancorp by 37.4% in the third quarter. Dimensional Fund Advisors LP now owns 111,831 shares of the bank’s stock valued at $7,660,000 after buying an additional 30,461 shares in the last quarter. Hedge funds and other institutional investors own 41.67% of the company’s stock.

Bank of Marin Bancorp (BMRC) opened at $67.05 on Friday. Bank of Marin Bancorp has a 1-year low of $59.05 and a 1-year high of $77.90. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $453.36, a PE ratio of 20.09, a P/E/G ratio of 1.47 and a beta of 0.76.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were given a dividend of $0.29 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.16 annualized dividend and a yield of 1.73%. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 44.96%.

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

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

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