Company did not provide specific guidance for the current quarter or full year in its press release
Overview
U.S. community bank's Q2 adjusted EPS beat analyst expectations
Net interest margin expanded 14 bps to 3.38%, driven by higher loan yields and lower deposit costs
Company reported improved asset quality and higher capital ratios
Result drivers and analyst coverage
Net interest margin expansion - Co said higher loan yields, targeted deposit rate cuts, and balance sheet management drove net interest margin improvement
Expense management - Lower salaries and charitable contributions reduced non-interest expense, per CFO Dave Bonaccorso
Credit quality improvement - Planned exit from special mention loans and lower non-accrual loans contributed to improved asset quality
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Beat
$0.58
$0.52 (6 Analysts)
Q2 EPS
$0.58
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
BMRC•
