Bank of Marin Bancorp reports results for the quarter ended in June - Earnings Summary

Bank of Marin Bancorp

29/07/2024 16:59

* Bank of Marin Bancorp  BMRC.OQ  reported quarterly
adjusted
earnings of 6 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 28 cents.  The mean expectation of six analysts for the
quarter was for earnings of 18 cents per share. Wall Street
expected results to range from 12 cents to 21 cents per share.
    * Revenue fell 6.9% to $22.47 million from a year ago;
analysts
expected $23.39 million. 
    * Bank of Marin Bancorp's reported EPS for the quarter was a
loss
of $1.36​.
    * The company reported a quarterly loss of $21.9 million.
    * Bank of Marin Bancorp shares had risen by 38.0% this
quarter and
gained 1.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 20.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "hold."

Wall Street's median 12-month price target for Bank of Marin
Bancorp is $16.00 
This summary was machine generated from LSEG data July 29 at
03:59 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.18           0.06           Missed
 Mar. 31 2024      0.26           0.18           Missed
 Dec. 31 2023      0.32           0.04           Missed
 Sep. 30 2023      0.32           0.33           Beat