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

Bank of Marin Bancorp (NASDAQ:BMRC) posted its quarterly earnings data on Monday. The bank reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.04 earnings per share.

Bank of Marin Bancorp Trading Up 2.3 %

Shares of Bank of Marin Bancorp stock traded up $0.55 during trading on Monday, reaching $24.54. The company’s stock had a trading volume of 3,374 shares, compared to its average volume of 44,850. The company has a 50-day moving average price of $24.28 and a two-hundred day moving average price of $22.14. Bank of Marin Bancorp has a fifty-two week low of $14.11 and a fifty-two week high of $27.11. The firm has a market cap of $394.62 million, a PE ratio of -28.63 and a beta of 0.93.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BMRC shares. 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 report on Thursday, October 10th. Stephens reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Bank of Marin Bancorp in a research report on Thursday, January 2nd. StockNews.com cut Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. 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 report on Wednesday, December 4th.

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.