Bank of Marin Bancorp (NASDAQ:BMRC) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Bank of Marin is a California State chartered bank. “

BMRC has been the subject of a number of other research reports. DA Davidson reissued a neutral rating on shares of Bank of Marin Bancorp in a research note on Tuesday, April 23rd. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Finally, ValuEngine raised shares of Xylem from a hold rating to a buy rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has an average rating of Hold and a consensus price target of $44.75.

Shares of NASDAQ:BMRC opened at $42.82 on Wednesday. The firm’s fifty day moving average is $41.81. The firm has a market cap of $582.38 million, a price-to-earnings ratio of 17.61, a P/E/G ratio of 2.50 and a beta of 0.58. Bank of Marin Bancorp has a 12-month low of $38.00 and a 12-month high of $45.13. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its earnings results on Monday, April 22nd. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.11). The company had revenue of $25.62 million for the quarter, compared to analyst estimates of $26.39 million. Bank of Marin Bancorp had a net margin of 31.44% and a return on equity of 10.79%. Sell-side analysts expect that Bank of Marin Bancorp will post 2.42 earnings per share for the current year.

In related news, CEO Russell A. Colombo sold 2,553 shares of Bank of Marin Bancorp stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $42.10, for a total value of $107,481.30. Following the completion of the sale, the chief executive officer now owns 65,409 shares of the company’s stock, valued at approximately $2,753,718.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Peter Pelham sold 2,818 shares of Bank of Marin Bancorp stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $41.93, for a total transaction of $118,158.74. Following the completion of the sale, the insider now directly owns 16,981 shares of the company’s stock, valued at approximately $712,013.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,995 shares of company stock valued at $251,505. 5.29% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Bank of Marin Bancorp by 115.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 437,482 shares of the bank’s stock valued at $18,041,000 after purchasing an additional 234,328 shares during the last quarter. Menta Capital LLC bought a new position in Bank of Marin Bancorp in the 4th quarter worth $205,000. BNP Paribas Arbitrage SA raised its holdings in Bank of Marin Bancorp by 261.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,849 shares of the bank’s stock worth $116,000 after acquiring an additional 2,060 shares during the period. Financial Advocates Investment Management raised its holdings in Bank of Marin Bancorp by 825.8% in the 4th quarter. Financial Advocates Investment Management now owns 8,536 shares of the bank’s stock worth $255,000 after acquiring an additional 7,614 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Bank of Marin Bancorp by 35.6% in the 1st quarter. Acadian Asset Management LLC now owns 37,088 shares of the bank’s stock worth $1,510,000 after acquiring an additional 9,737 shares during the period. 42.61% of the stock is owned by institutional investors and hedge funds.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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