Piper Jaffray Companies Comments on Bank of Marin Bancorp’s Q2 2019 Revenue (BMRC)

Piper Jaffray Companies Comments on Bank of Marin Bancorp’s Q2 2019 Revenue (BMRC)

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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