Bank Of Marin Set For Earnings Surge, Analyst Raises 2025 Forecast Amid Interest Rate Cuts
Bank Of Marin Set For Earnings Surge, Analyst Raises 2025 Forecast Amid Interest Rate Cuts
Furthermore, the anticipated relief from interest rates is expected to alleviate some pressure on office CRE and lessen overall investor concerns regarding the broader credit quality landscape, adds the analyst.DA Davidson analyst upgraded Bank of Marin Bancorp (NASDAQ:BMRC) to Buy from Neutral and raised the price target to $24 from $21.
DA Davidson分析師將馬林銀行 (NASDAQ:BMRC) 的評級從中立提升至買入，並將目標股價從21美元提高至24美元。
The analyst writes that the Fed's potential shift to lower rates has enhanced their earnings outlook for BMRC and led to the belief that the bank's credit risks have somewhat diminished.
分析師表示，聯儲局可能減息的潛力提升了他們對BMRC收益前景的展望，並導致認爲銀行的信貸風險已經在一定程度上減輕。
Consequently, the analyst increased the 2025 EPS estimate by 10%, primarily due to a more optimistic forecast for NIM/NII.
因此，分析師將2025年每股收益預期提高了10%，主要是由於對NIM/NII更加樂觀的預測。
Furthermore, the anticipated relief from interest rates is expected to alleviate some pressure on office CRE and lessen overall investor concerns regarding the broader credit quality landscape, adds the analyst.
此外，預期的利率釋放預計將減輕辦公樓商業地產的一些壓力，減輕整體投資者對更廣泛信貸質量格局的擔憂，分析師補充道。
The analyst says that the bank sold low-yielding securities to reduce borrowings and invest in higher-yielding assets in the second quarter, expected to raise annualized NIM by about 30 basis points starting in 3Q24 and generate $0.46 in EPS accretion over the next four quarters, representing a three-year payback.
分析師稱，銀行在第二季度賣出低收益證券以減少借款，並投資於更高收益的資產，預計將在3Q24開始將年化NIM提高約30個點子，並在接下來的四個季度內產生0.46美元的每股收益增值，代表了三年的回本期。
Additionally, a 200 basis point rate reduction could boost NII by 1.8% in the first year, leading the analyst to project NIM will surpass 3.00% by the end of 2025.
另外，利率下降200個點子可能使NII在第一年增加1.8%，導致分析師預計NIM將在2025年年底超過3.00%。
The analyst says that while BMRC's credit issues aren't fully resolved, the recent 50 basis point Fed rate cut offers relief for maturing loans and increases the chances of a soft landing, easing investor concerns over credit quality.
分析師表示，儘管BMRC的信貸問題尚未完全解決，但最近聯儲局減息50個點子爲到期貸款提供了一定程度的支持，並增加了軟着陸的機會，減輕了投資者對信貸質量的擔憂。
The analyst estimates EPS of $(0.70) in 2024 and $1.35 (up from $1.23) in 2025.
分析師預計2024年的每股收益爲(0.70)美元，2025年爲1.35美元（由1.23美元上調）。
Price Action: BMRC shares are up 4.53% at $21.02 at the last check Thursday.
價格走勢：BMRC股價在上週四最後一次查詢時上漲了4.53%，報價21.02美元。
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譯文內容由第三人軟體翻譯。
