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

Bank of Marin Bancorp (NASDAQ:BMRC) – Stock analysts at DA Davidson dropped their FY2024 earnings per share estimates for Bank of Marin Bancorp in a research report issued on Tuesday, April 30th. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings per share of $0.80 for the year, down from their previous forecast of $1.10. DA Davidson has a “Neutral” rating and a $15.00 price target 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 issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.59 earnings per share.

Separately, Stephens cut their price objective on Bank of Marin Bancorp from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday.

Bank of Marin Bancorp Stock Performance

Shares of NASDAQ BMRC opened at $14.81 on Thursday. The stock has a market cap of $241.40 million, a PE ratio of 17.84 and a beta of 0.88. The business has a fifty day moving average of $16.05 and a two-hundred day moving average of $18.28. Bank of Marin Bancorp has a 52-week low of $12.89 and a 52-week high of $23.24.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 9th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 6.75%. Bank of Marin Bancorp’s payout ratio is 120.48%.

Institutional Trading of Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRC. PNC Financial Services Group Inc. grew its position in shares of Bank of Marin Bancorp by 348.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,358 shares of the bank’s stock worth $52,000 after buying an additional 1,832 shares during the period. SG Americas Securities LLC acquired a new position in shares of Bank of Marin Bancorp during the 3rd quarter worth about $130,000. Bridge City Capital LLC grew its position in shares of Bank of Marin Bancorp by 17.9% during the 1st quarter. Bridge City Capital LLC now owns 11,497 shares of the bank’s stock worth $193,000 after buying an additional 1,747 shares during the period. Wealthspire Advisors LLC acquired a new position in shares of Bank of Marin Bancorp during the 4th quarter worth about $355,000. Finally, BNP Paribas Financial Markets grew its position in shares of Bank of Marin Bancorp by 38.6% during the 4th quarter. BNP Paribas Financial Markets now owns 17,102 shares of the bank’s stock worth $377,000 after buying an additional 4,762 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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 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.