Zacks: Brokerages Anticipate Bank of Marin Bancorp (BMRC) Will Announce Quarterly Sales of $24.61 Million

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Equities analysts predict that Bank of Marin Bancorp (NASDAQ:BMRC) will announce $24.61 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Bank of Marin Bancorp’s earnings, with the lowest sales estimate coming in at $24.13 million and the highest estimate coming in at $24.80 million. Bank of Marin Bancorp reported sales of $20.40 million during the same quarter last year, which suggests a positive year over year growth rate of 20.6%. The business is scheduled to announce its next earnings report on Monday, July 23rd.

On average, analysts expect that Bank of Marin Bancorp will report full year sales of $99.34 million for the current financial year, with estimates ranging from $97.37 million to $100.50 million. For the next fiscal year, analysts anticipate that the company will post sales of $105.19 million per share, with estimates ranging from $102.17 million to $107.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its quarterly earnings results on Monday, April 23rd. The bank reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Bank of Marin Bancorp had a return on equity of 8.30% and a net margin of 19.93%. The firm had revenue of $24.13 million for the quarter, compared to analyst estimates of $23.27 million.

A number of equities analysts have weighed in on the company. DA Davidson upped their price target on Bank of Marin Bancorp to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th. Zacks Investment Research raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Monday, June 25th. Finally, BidaskClub raised Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $81.00.

Bank of Marin Bancorp traded down $0.85, reaching $80.85, during trading hours on Wednesday, MarketBeat reports. 20,662 shares of the stock were exchanged, compared to its average volume of 31,031. Bank of Marin Bancorp has a twelve month low of $60.95 and a twelve month high of $90.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.02. The company has a market cap of $570.59 million, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 1.80 and a beta of 0.73.

In other news, insider Peter Pelham sold 1,000 shares of the stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $80.27, for a total value of $80,270.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 1,216 shares of company stock valued at $96,539. 5.17% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Bank of Marin Bancorp by 5.2% in the 1st quarter. Russell Investments Group Ltd. now owns 17,603 shares of the bank’s stock valued at $1,214,000 after buying an additional 877 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Bank of Marin Bancorp by 9.7% in the 4th quarter. California State Teachers Retirement System now owns 10,603 shares of the bank’s stock valued at $721,000 after buying an additional 938 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Bank of Marin Bancorp by 11.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 14,071 shares of the bank’s stock valued at $971,000 after buying an additional 1,500 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Bank of Marin Bancorp by 83.2% in the 1st quarter. ClariVest Asset Management LLC now owns 3,723 shares of the bank’s stock valued at $257,000 after buying an additional 1,691 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Bank of Marin Bancorp by 10.2% in the 1st quarter. California Public Employees Retirement System now owns 18,413 shares of the bank’s stock valued at $1,270,000 after buying an additional 1,705 shares during the last quarter. 43.53% of the stock is owned by institutional investors.

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 professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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Earnings History and Estimates for Bank of Marin Bancorp (NASDAQ:BMRC)

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