Bank of Marin Bancorp (NASDAQ: BMRC) – Piper Sandler stock researchers lowered their earnings estimates for fiscal 2021 for Bank of Marin Bancorp in a research note released to investors on Thursday, December 16. Piper Sandler analyst Mr. Clark now predicts the bank will earn $ 2.63 per share for the year, down from its previous forecast of $ 2.64.
Meanwhile, Zacks Investment Research downgraded Bank of Marin Bancorp’s rating from a âbuyâ rating to a âcustodyâ rating in a research note on Wednesday, October 27.
The NASDAQ BMRC opened at $ 36.72 on Monday. Bank of Marin Bancorp has a one-year low at $ 30.69 and a one-year high at $ 42.19. The stock has a market cap of $ 588.00 million, a P / E ratio of 15.83 and a beta of 0.75. The company has a 50-day moving average price of $ 37.31. Bank of Marin Bancorp (NASDAQ: BMRC) last released its quarterly earnings data on Sunday, October 24. The bank reported earnings per share of $ 0.61 for the quarter, beating the consensus estimate of $ 0.31 by $ 0.30. Bank of Marin Bancorp had a return on equity of 9.38% and a net margin of 28.64%. The company posted revenue of $ 31.32 million in the quarter, compared to a consensus estimate of $ 29.65 million. During the same period last year, the company posted EPS of $ 0.55.
A number of large investors have recently changed their positions in the company. Strs Ohio increased its holdings of Bank of Marin Bancorp shares by 350.0% in the third quarter. Strs Ohio now owns 900 shares of the bank valued at $ 33,000 after purchasing an additional 700 shares in the last quarter. Marshall Wace LLP acquired a new equity interest in Bank of Marin Bancorp during the first quarter valued at $ 75,000. Allworth Financial LP increased its holdings of Bank of Marin Bancorp shares by 290.8% in the third quarter. Allworth Financial LP now owns 3,638 shares of the bank valued at $ 137,000 after purchasing an additional 2,707 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings of Bank of Marin Bancorp shares by 95,540.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 4,782 shares of the bank valued at $ 153,000 after purchasing an additional 4,777 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Bank of Marin Bancorp shares by 120.0% during the third quarter. BNP Paribas Arbitrage SA now owns 4,138 shares of the bank valued at $ 156,000 after purchasing an additional 2,257 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s shares.
In other Bank of Marin Bancorp news, director Russell A. Colombo sold 9,000 shares in a trade on Friday, December 17. The stock was sold at an average price of $ 37.00, for a total trade of $ 333,000.00. The sale was disclosed in a legal file with the SEC, which can be accessed through the SEC’s website. 5.59% of the shares are currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, November 12. Shareholders of record on Friday, November 5 received a dividend of $ 0.24 per share. This represents a dividend of $ 0.96 on an annualized basis and a return of 2.61%. The ex-dividend date of this dividend was Thursday, November 4. Bank of Marin Bancorp’s dividend payout ratio (DPR) is currently 41.38%.
About Bank of Marin Bancorp
Bank of Marin Bancorp is a banking holding company, which operates through the Bank of Marin, provides financial services to clients. It offers traditional local banking activities and wealth management and trust services; personal and business chequing and savings accounts; certificates of deposit; individual retirement accounts; health savings accounts; certificate of deposit register services; insured cash transfer and demand deposit market accounts.
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