Bank of Marin Bancorp (NASDAQ:BMRC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.40.

BMRC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $30.00 price target (up previously from $27.00) on shares of Bank of Marin Bancorp in a research report on Wednesday, October 29th. Zacks Research raised Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Marin Bancorp in a research report on Wednesday, October 8th. UBS Group set a $30.00 price target on Bank of Marin Bancorp in a research report on Wednesday, October 29th. Finally, DA Davidson increased their price target on Bank of Marin Bancorp from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th.

Bank of Marin Bancorp Trading Down 0.3%

Bank of Marin Bancorp stock opened at $25.68 on Tuesday. Bank of Marin Bancorp has a 12 month low of $19.14 and a 12 month high of $27.11. The stock’s 50 day moving average is $24.44 and its 200-day moving average is $23.20. The company has a market capitalization of $414.09 million, a price-to-earnings ratio of 41.42 and a beta of 0.89.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its earnings results on Monday, March 7th. The bank reported $0.61 EPS for the quarter. Bank of Marin Bancorp had a return on equity of 5.27% and a net margin of 6.22%.The company had revenue of $31.32 million for the quarter. As a group, equities research analysts predict that Bank of Marin Bancorp will post 1.61 earnings per share for the current fiscal year.

Bank of Marin Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, November 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Bank of Marin Bancorp’s dividend payout ratio is currently 161.29%.

Bank of Marin Bancorp announced that its Board of Directors has initiated a share buyback program on Monday, July 28th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Bank of Marin Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $195,000. SummerHaven Investment Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $799,000. Lodestar Private Asset Management LLC acquired a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $224,000. CWM LLC boosted its holdings in shares of Bank of Marin Bancorp by 63.7% in the 3rd quarter. CWM LLC now owns 6,376 shares of the bank’s stock valued at $155,000 after purchasing an additional 2,481 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Bank of Marin Bancorp in the 3rd quarter valued at $291,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

About Bank of Marin Bancorp

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