Bank Of Marin Bancorp Records Mixed Q2 Performance; Plans New Share Repurchase Program
Portfolio Pulse from Nabaparna Bhattacharya
Bank Of Marin Bancorp (NASDAQ:BMRC) reported Q2 revenues of $26.87 million, beating the consensus of $26.30 million, but missed EPS estimates with $0.28 against the expected $0.43. The company also recorded a $500 thousand provision for credit losses on loans for Q2, up from $350 thousand in Q1. The Board of Directors declared a cash dividend of $0.25 per share and approved a new share repurchase program for up to $25 million.
July 24, 2023 | 4:08 pm
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Bank Of Marin Bancorp's mixed Q2 results and new share repurchase program could have a mixed impact on its stock.
While the company's Q2 revenue beat estimates, its EPS missed expectations, which could have a negative impact on the stock. However, the declaration of a dividend and the approval of a new share repurchase program could boost investor confidence and have a positive impact on the stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100