Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) released its quarterly earnings results on Monday. The bank reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01, Yahoo Finance reports. Bank of Marin Bancorp had a negative net margin of 9.09% and a positive return on equity of 3.25%. The firm had revenue of $39.21 million during the quarter, compared to analysts' expectations of $27.30 million. During the same period in the previous year, the company earned $0.33 EPS.
Bank of Marin Bancorp Price Performance
Shares of NASDAQ:BMRC traded up $0.17 during trading hours on Tuesday, hitting $22.90. The company's stock had a trading volume of 60,389 shares, compared to its average volume of 77,541. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $23.24. The company has a market capitalization of $372.95 million, a price-to-earnings ratio of 27.59 and a beta of 0.92. The firm's fifty day moving average price is $20.73 and its 200 day moving average price is $18.15.
Bank of Marin Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 4.37%. Bank of Marin Bancorp's dividend payout ratio is currently 120.48%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on BMRC. Keefe, Bruyette & Woods lifted their price target on shares of Bank of Marin Bancorp from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. DA Davidson upgraded shares of Bank of Marin Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a report on Thursday, October 10th.
View Our Latest Analysis on BMRC
About Bank of Marin Bancorp
(
Get Free Report)
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.
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