Bank of Marin Bancorp
) achieved a new 52-week high of $48.00 in the second half of the
trading session on Aug 21. The stock closed the session at $47.66,
reflecting a year-to-date return of 10.6%. The trading volume for
the session was 41,882 shares.
Despite the strong price appreciation, this Zacks Rank #3 (Hold)
stock has plenty of upside left, given its upward estimate
revisions over the last 60 days.
Impressive second-quarter 2014 results as well as a hike in
quarterly dividend were the primary growth drivers. Notably, the
company reported 23% and 31% year-over-year growth in loans and
Reported on Jul 21, Invesco's second-quarter earnings of 86 cents
per share surpasssed the Zacks Consensus Estimate by 6.2%. Results
gained from the 24.6% year-over-year rise in revenues, partially
offset by 10% increase in expenses.
Moreover, Bank of Marin announced a 5.3% hike in its quarterly cash
dividend to 20 cents per share on Jul 18. The dividend was paid on
Aug 8 to the shareholders of record as of Aug 1.
Bank of Marin seems to be well positioned for organic as well as
inorganic growth, given its improving asset quality and strong
capital base. However, elevated expenses along with the prevailing
low interest rate environment and sluggish economic scenario could
mar the bank's profitability going forward.
Estimate Revisions Show Strength
Over the last 60 days, the Zacks Consensus Estimate for 2014
revised 4.1% upward to $3.33 per share. For 2015, the Zacks
Consensus Estimate increased 3.6% to $3.48 per share over the same
Some better-ranked western banks include Central Valley Community
), Northrim Bancorp Inc. (
) and Sierra Bancorp (
). All these stocks hold a Zacks Rank #1 (Strong Buy).
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CENTRAL VLY COM (CVCY): Free Stock Analysis
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BANK OF MARIN (BMRC): Free Stock Analysis
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