CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Bank of Marin Bancorp Q3 profit beats estimates on higher loan yields

By Reuters News


Overview

  • California community bank's Q3 adjusted EPS rose 32% yr/yr, beating analyst expectations

  • Net interest margin expanded to 3.48%, driven by higher loan yields and lower deposit costs

  • Company reported growth in loans and deposits, with higher share of noninterest-bearing deposits


Outlook

  • Company expects modest net interest margin expansion over time due to loan repricing and originations

  • Company expects capital ratios to remain above regulatory minimums over a five-year forecast horizon


Result Drivers

  • LOAN GROWTH - Co said loan growth was driven by organic originations and a residential loan pool purchase

  • HIGHER LOAN YIELDS - Net interest margin expansion was primarily due to higher average loan yields

  • FEE INCOME - Non-interest income rose, helped by higher deposit service charges after a pricing update


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Beat

$0.62

$0.57 (6 Analysts)

Q3 EPS

$0.62

Q3 Net Interest Margin

3.48%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" 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 "buy."

  • Wall Street's median 12-month price target for Bank of Marin Bancorp is $32.00, about 18% above its October 23 closing price of $27.11

  • The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Oct 26 - Lakeland Financial Q3 net income rises on commercial loan growth

  • Oct 23 - First National Q3 net income rises on loan growth

  • Oct 26 - First Resource Bank Q3 profit rises on loan growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.