Q1 2023 Earnings Forecast for Bank of Marin Bancorp Issued By DA Davidson (NASDAQ:BMRC)

Posted by Defense World Staff on Apr 8th, 2023

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) – Investment analysts at DA Davidson lowered their Q1 2023 EPS estimates for Bank of Marin Bancorp in a research note issued on Wednesday, April 5th. DA Davidson analyst J. Rulis now forecasts that the bank will earn $0.73 per share for the quarter, down from their previous forecast of $0.74. The consensus estimate for Bank of Marin Bancorp’s current full-year earnings is $2.80 per share. DA Davidson also issued estimates for Bank of Marin Bancorp’s FY2023 earnings at $2.90 EPS and FY2024 earnings at $2.90 EPS.

Bank of Marin Bancorp (NASDAQ:BMRC – Get Rating) last posted its quarterly earnings data on Monday, January 23rd. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The company had revenue of $36.79 million during the quarter, compared to analyst estimates of $37.03 million. Bank of Marin Bancorp had a net margin of 33.05% and a return on equity of 11.52%.

A number of other analysts have also weighed in on the stock. Janney Montgomery Scott raised shares of Bank of Marin Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, March 2nd. TheStreet lowered shares of Bank of Marin Bancorp from a “b” rating to a “c+” rating in a report on Tuesday, February 14th. Finally, StockNews.com assumed coverage on shares of Bank of Marin Bancorp in a research note on Thursday, March 16th. They issued a “hold” rating on the stock.

Bank of Marin Bancorp Trading Up 1.1 %

NASDAQ BMRC opened at $21.30 on Thursday. The firm has a market cap of $342.08 million, a price-to-earnings ratio of 7.29 and a beta of 0.71. The company has a 50 day moving average of $27.12 and a 200-day moving average of $30.95. Bank of Marin Bancorp has a 1-year low of $20.37 and a 1-year high of $36.78.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRC. JPMorgan Chase & Co. raised its holdings in shares of Bank of Marin Bancorp by 7.0% during the first quarter. JPMorgan Chase & Co. now owns 7,407 shares of the bank’s stock worth $259,000 after acquiring an additional 486 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Bank of Marin Bancorp by 59.8% during the first quarter. MetLife Investment Management LLC now owns 8,295 shares of the bank’s stock worth $291,000 after acquiring an additional 3,103 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Bank of Marin Bancorp by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 722,673 shares of the bank’s stock worth $25,344,000 after acquiring an additional 21,712 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of Marin Bancorp by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 115,161 shares of the bank’s stock worth $4,039,000 after acquiring an additional 2,750 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Bank of Marin Bancorp by 6.2% during the first quarter. Renaissance Technologies LLC now owns 149,492 shares of the bank’s stock worth $5,243,000 after acquiring an additional 8,700 shares during the period. 48.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of Marin Bancorp

In other news, Director Steven I. Barlow sold 900 shares of Bank of Marin Bancorp stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $29.43, for a total transaction of $26,487.00. Following the transaction, the director now directly owns 1,921 shares of the company’s stock, valued at $56,535.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Steven I. Barlow sold 900 shares of Bank of Marin Bancorp stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $29.43, for a total transaction of $26,487.00. Following the transaction, the director now directly owns 1,921 shares of the company’s stock, valued at $56,535.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Russell A. Colombo sold 2,200 shares of Bank of Marin Bancorp stock in a transaction on Friday, February 24th. The stock was sold at an average price of $29.85, for a total transaction of $65,670.00. Following the transaction, the director now directly owns 34,861 shares in the company, valued at $1,040,600.85. The disclosure for this sale can be found here. Insiders own 4.72% of the company’s stock.

Bank of Marin Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date was Thursday, February 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.69%. Bank of Marin Bancorp’s dividend payout ratio is 34.25%.

Bank of Marin Bancorp Company Profile

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Bank of Marin Bancorp is a bank holding company, which operates through the Bank of Marin, providing financial services to customers. It offers traditional community banking activities and wealth management and trust services, personal and business checking and savings accounts, certificates of deposit, individual retirement accounts, health savings accounts, certificate of deposit account registry services, insured cash sweep, and demand deposit marketplace accounts.