Bank of Marin Bancorp (NASDAQ:BMRC) Announces Quarterly Earnings Results

Bank of Marin Bancorp (NASDAQ:BMRC) released its quarterly earnings data on Friday. The bank reported $0.59 earnings per share for the quarter, FiscalAI reports. The business had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a positive return on equity of 6.00% and a negative net margin of 21.76%.

Bank of Marin Bancorp Stock Performance

Bank of Marin Bancorp stock opened at $23.90 on Friday. The stock has a market capitalization of $384.55 million, a price-to-earnings ratio of -10.62 and a beta of 0.89. Bank of Marin Bancorp has a 52-week low of $19.14 and a 52-week high of $28.48. The stock’s 50 day moving average price is $26.28 and its two-hundred day moving average price is $25.74.

Bank of Marin Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, February 5th. Bank of Marin Bancorp’s dividend payout ratio is presently -44.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BMRC. Torren Management LLC bought a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $31,000. Russell Investments Group Ltd. increased its position in Bank of Marin Bancorp by 2,543.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock valued at $31,000 after buying an additional 1,221 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Bank of Marin Bancorp by 33.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after buying an additional 379 shares during the period. Tower Research Capital LLC TRC raised its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after buying an additional 1,040 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Bank of Marin Bancorp by 88.2% in the third quarter. BNP Paribas Financial Markets now owns 2,893 shares of the bank’s stock worth $70,000 after acquiring an additional 1,356 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMRC shares. Stephens reaffirmed an “overweight” rating and set a $29.00 target price on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Piper Sandler reiterated a “neutral” rating and issued a $30.50 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Zacks Research downgraded Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Bank of Marin Bancorp in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of Marin Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $30.10.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.