Bank of Marin Bancorp (NASDAQ: BMRC) has reported earnings for its first fiscal quarter (ending March 31) of $0.18 versus $0.59 for the same period a year ago — a decline of -69%. Relative to the consensus estimate of $0.35, this was a shortfall of $-0.17. For the latest four quarters through March 31, E.P.S. were $0.83 compared to $2.86 a year ago — a decline of -71%.
Recent Price Action
Bank of Marin Bancorp (NASDAQ: BMRC) stock suffered a large decline of -6.5% on 4/29/24. The stock closed at $14.44. Moreover, exceptionally high trading volume at 247% of normal accompanied the decline. The stock has been weak relative to the market over the last nine months and has declined -7.0% during the last week.
Current PriceTarget Research Rating
BMRC is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Bank of Marin Bancorp has a current Value Trend Rating of C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Bank of Marin Bancorp has a good Appreciation Score of 71 but a poor Power Rating of 30, leading to the Neutral Value Trend Rating.
Rating Review
In light of this discouraging new earnings information and negative market action we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
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