Financial institution of Marin (BMRC) got here out with quarterly earnings of $0.18 per share, lacking the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.59 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -35.71%. 1 / 4 in the past, it was anticipated that this financial institution holding firm would publish earnings of $0.32 per share when it really produced earnings of $0.30, delivering a shock of -6.25%.
Over the past 4 quarters, the corporate has not been capable of surpass consensus EPS estimates.
Financial institution of Marin
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
Financial institution of Marin shares have misplaced about 29.9% because the starting of the 12 months versus the S&P 500’s acquire of 6.9%.
What’s Subsequent for Financial institution of Marin?
Whereas Financial institution of Marin has underperformed the market to this point this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a formidable observe document of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Financial institution of Marin: combined. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.32 on $27.6 million in revenues for the approaching quarter and $1.23 on $112.1 million in revenues for the present fiscal 12 months.
Traders ought to be conscious of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as nicely. By way of the Zacks Trade Rank, Banks – West is presently within the backside 27% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical business, First Northwest Bancorp (FNWB), is but to report outcomes for the quarter ended March 2024.
This firm is predicted to publish quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -69.2%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
First Northwest Bancorp’s revenues are anticipated to be $16.5 million, down 11.5% from the year-ago quarter.
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Bank of Marin Bancorp (BMRC) : Free Stock Analysis Report
First Northwest Bancorp (FNWB) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
