Bank of Marin Bancorp (NASDAQ:BMRC) Releases Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Bank of Marin Bancorp reported quarterly EPS of $0.62, beating analyst expectations of $0.57 by $0.05.
• The stock opened at $27.11, with a market capitalization of approximately $438.9 million and a 12-month trading range of $23.35 to $30.92.
• Analyst sentiment remains cautious: BMRC has an average rating of “Hold” and an average price target of $31.33, despite two Buy ratings.

Bank of Marin Bancorp (NASDAQ:BMRC - Get Free Report) announced its quarterly earnings data on Monday. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05, FiscalAI reports. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%.

Bank of Marin Bancorp Stock Performance

Bank of Marin Bancorp stock opened at $27.11 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. Bank of Marin Bancorp has a 12 month low of $23.35 and a 12 month high of $30.92. The company has a market capitalization of $438.91 million, a price-to-earnings ratio of -29.79 and a beta of 0.82. The business's fifty day simple moving average is $27.25 and its two-hundred day simple moving average is $27.10.

Analysts Set New Price Targets

BMRC has been the subject of several recent research reports. Brean Capital cut shares of Bank of Marin Bancorp from a "buy" rating to a "neutral" rating and set a $33.00 target price for the company. in a research report on Tuesday, July 28th. Stephens set a $30.00 price objective on shares of Bank of Marin Bancorp and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Zacks Research raised Bank of Marin Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Piper Sandler reiterated a "neutral" rating and set a $29.00 price target (down from $30.00) on shares of Bank of Marin Bancorp in a report on Thursday, October 1st. Finally, DA Davidson set a $34.00 target price on shares of Bank of Marin Bancorp and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $31.33.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.

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