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

Bank of Marin Bancorp (NASDAQ:BMRC) released its quarterly earnings results on Monday. The bank reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06, Zacks reports. Bank of Marin Bancorp had a negative net margin of 9.49% and a positive return on equity of 3.05%. During the same period last year, the company earned $0.04 EPS.

Bank of Marin Bancorp Stock Down 3.0 %

Bank of Marin Bancorp stock opened at $24.58 on Wednesday. The stock has a 50-day moving average price of $24.27 and a 200 day moving average price of $22.18. Bank of Marin Bancorp has a 52 week low of $14.11 and a 52 week high of $27.11.

Bank of Marin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Thursday, February 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, February 6th. Bank of Marin Bancorp’s dividend payout ratio is presently -116.28%.

Analyst Ratings Changes

Several research analysts recently weighed in on BMRC shares. Keefe, Bruyette & Woods boosted their target price on Bank of Marin Bancorp from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a report on Thursday, January 2nd. StockNews.com lowered shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, DA Davidson raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, October 10th.

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.