Brokers Offer Predictions for Bank of Marin Bancorp’s FY2024 Earnings (NASDAQ:BMRC)

Bank of Marin Bancorp (NASDAQ:BMRC) – DA Davidson reduced their FY2024 earnings estimates for shares of Bank of Marin Bancorp in a research report issued to clients and investors on Tuesday, April 30th. DA Davidson analyst J. Rulis now expects that the bank will post earnings of $0.80 per share for the year, down from their previous forecast of $1.10. DA Davidson has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Bank of Marin Bancorp’s current full-year earnings is $1.23 per share.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.10). The company had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $26.90 million. Bank of Marin Bancorp had a net margin of 9.28% and a return on equity of 4.11%. During the same period last year, the firm posted $0.59 earnings per share.

Separately, Stephens cut their target price on shares of Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday.

Bank of Marin Bancorp Stock Up 3.1 %

Shares of BMRC opened at $14.81 on Thursday. Bank of Marin Bancorp has a fifty-two week low of $12.89 and a fifty-two week high of $23.24. The firm’s 50 day moving average price is $16.05 and its 200 day moving average price is $18.28. The company has a market cap of $241.40 million, a P/E ratio of 17.84 and a beta of 0.88.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. North Reef Capital Management LP acquired a new stake in Bank of Marin Bancorp during the 3rd quarter worth $1,005,000. Rosenthal Henry Capital Advisors Inc. boosted its stake in Bank of Marin Bancorp by 135.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 43,500 shares of the bank’s stock worth $795,000 after purchasing an additional 25,000 shares during the period. Trexquant Investment LP acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $432,000. Cerity Partners LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $430,000. Finally, Wealthspire Advisors LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $355,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.75%. The ex-dividend date is Wednesday, May 8th. Bank of Marin Bancorp’s dividend payout ratio (DPR) is presently 120.48%.

About Bank of Marin Bancorp

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to small to medium-sized businesses, not-for-profit organizations, and commercial real estate investors in the United States. The company offers personal and business checking and savings accounts; and individual retirement, health savings, and demand deposit marketplace accounts, as well as time certificates of deposit, certificate of deposit account registry, and insured cash sweep services.