Bank of Marin Bancorp (NASDAQ:BMRC) Announces Earnings Results, Beats Expectations By $0.06 EPS

Bank of Marin Bancorp (NASDAQ:BMRC) issued 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 quarter in the prior year, the business posted $0.04 EPS.

Bank of Marin Bancorp Trading Up 5.6 %

BMRC opened at $25.34 on Tuesday. The company has a fifty day moving average price of $24.28 and a two-hundred day moving average price of $22.14. Bank of Marin Bancorp has a 1-year low of $14.11 and a 1-year high of $27.11. The company has a market cap of $407.47 million, a P/E ratio of -29.46 and a beta of 0.93.

Wall Street Analysts Forecast Growth

BMRC has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Bank of Marin Bancorp in a research note on Thursday, January 2nd. DA Davidson raised Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, October 10th. StockNews.com cut shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective 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.

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.