Bank of Marin Bancorp (NASDAQ:BMRC) – Equities research analysts at Piper Jaffray Companies lowered their Q2 2019 earnings estimates for Bank of Marin Bancorp in a report issued on Wednesday, May 1st. Piper Jaffray Companies analyst M. Clark now expects that the bank will post earnings per share of $0.61 for the quarter, down from their previous estimate of $0.66. Piper Jaffray Companies also issued estimates for Bank of Marin Bancorp’s Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.68 EPS, FY2019 earnings at $2.50 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.65 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $0.71 EPS and FY2020 earnings at $2.65 EPS.
Several other research firms have also weighed in on BMRC. BidaskClub raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Friday, February 15th. Zacks Investment Research lowered shares of Bank of Marin Bancorp from a “buy” rating to a “sell” rating in a report on Thursday, April 25th. Finally, DA Davidson reissued a “neutral” rating on shares of Bank of Marin Bancorp in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.75.
Shares of NASDAQ BMRC traded up $1.24 during mid-day trading on Friday, hitting $42.85. 44,165 shares of the stock were exchanged, compared to its average volume of 30,108. The firm has a market cap of $591.20 million, a price-to-earnings ratio of 18.39, a PEG ratio of 2.53 and a beta of 0.59. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.01. Bank of Marin Bancorp has a twelve month low of $37.50 and a twelve month high of $45.42.
Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.11). The firm had revenue of $25.62 million for the quarter, compared to analyst estimates of $26.39 million. Bank of Marin Bancorp had a return on equity of 10.88% and a net margin of 31.44%.
Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC grew its holdings in Bank of Marin Bancorp by 59.9% during the 4th quarter. Advisory Services Network LLC now owns 606 shares of the bank’s stock worth $25,000 after acquiring an additional 227 shares during the period. Advisor Group Inc. grew its holdings in Bank of Marin Bancorp by 392.2% during the 4th quarter. Advisor Group Inc. now owns 1,132 shares of the bank’s stock worth $47,000 after acquiring an additional 902 shares during the period. Great West Life Assurance Co. Can grew its holdings in Bank of Marin Bancorp by 5,022.9% during the 4th quarter. Great West Life Assurance Co. Can now owns 1,793 shares of the bank’s stock worth $71,000 after acquiring an additional 1,758 shares during the period. Legal & General Group Plc grew its holdings in Bank of Marin Bancorp by 128.4% during the 4th quarter. Legal & General Group Plc now owns 2,430 shares of the bank’s stock worth $100,000 after acquiring an additional 1,366 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Bank of Marin Bancorp by 261.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,849 shares of the bank’s stock worth $116,000 after acquiring an additional 2,060 shares during the period. 43.08% of the stock is owned by institutional investors and hedge funds.
In related news, insider Peter Pelham sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $41.91, for a total value of $335,280.00. Following the completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at $800,900.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Reizman sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $41.46, for a total transaction of $41,460.00. Following the completion of the sale, the executive vice president now directly owns 7,990 shares of the company’s stock, valued at approximately $331,265.40. The disclosure for this sale can be found here. In the last three months, insiders sold 19,488 shares of company stock valued at $817,294. 5.29% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, May 2nd. Bank of Marin Bancorp’s dividend payout ratio is currently 32.62%.
Bank of Marin Bancorp Company Profile
Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.
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