Bank of Marin Bancorp (NASDAQ:BMRC) Expected to Post Quarterly Sales of $26.38 Million

Equities analysts expect Bank of Marin Bancorp (NASDAQ:BMRC) to announce sales of $26.38 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Bank of Marin Bancorp’s earnings. The highest sales estimate is $26.60 million and the lowest is $26.20 million. Bank of Marin Bancorp posted sales of $25.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings results on Monday, October 28th.

According to Zacks, analysts expect that Bank of Marin Bancorp will report full year sales of $104.83 million for the current fiscal year, with estimates ranging from $104.20 million to $105.80 million. For the next year, analysts anticipate that the business will report sales of $109.32 million, with estimates ranging from $107.30 million to $110.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Bank of Marin Bancorp.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The company had revenue of $26.06 million for the quarter, compared to the consensus estimate of $26.59 million. Bank of Marin Bancorp had a net margin of 31.30% and a return on equity of 10.70%.

A number of equities analysts recently issued reports on BMRC shares. ValuEngine downgraded shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. BidaskClub downgraded shares of Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Zacks Investment Research raised shares of Bank of Marin Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

BMRC opened at $43.23 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $566.88 million, a price-to-earnings ratio of 18.55, a PEG ratio of 2.49 and a beta of 0.57. The company’s 50 day moving average is $41.55 and its 200 day moving average is $41.99. Bank of Marin Bancorp has a 12-month low of $38.00 and a 12-month high of $45.13.

In other Bank of Marin Bancorp news, EVP Peter Pelham sold 3,000 shares of Bank of Marin Bancorp stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $40.10, for a total transaction of $120,300.00. Following the transaction, the executive vice president now owns 9,857 shares of the company’s stock, valued at $395,265.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.29% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Susquehanna International Group LLP raised its position in shares of Bank of Marin Bancorp by 955.1% during the second quarter. Susquehanna International Group LLP now owns 62,493 shares of the bank’s stock valued at $2,563,000 after buying an additional 56,570 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Bank of Marin Bancorp during the second quarter valued at approximately $2,010,000. Morgan Stanley raised its position in shares of Bank of Marin Bancorp by 84.1% during the second quarter. Morgan Stanley now owns 85,161 shares of the bank’s stock valued at $3,493,000 after buying an additional 38,909 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bank of Marin Bancorp by 0.9% during the second quarter. Vanguard Group Inc. now owns 700,675 shares of the bank’s stock valued at $28,742,000 after buying an additional 6,089 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Bank of Marin Bancorp by 648.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,460 shares of the bank’s stock valued at $59,000 after buying an additional 1,265 shares during the last quarter. 45.28% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Hold Rating

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

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