Piper Sandler Has Lowered Expectations for Bank of Marin Bancorp (NASDAQ:BMRC) Stock Price

Bank of Marin Bancorp (NASDAQ:BMRC) had its price target decreased by Piper Sandler from $30.50 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 9.27% from the company’s previous close.

Several other analysts have also commented on BMRC. Zacks Research lowered shares of Bank of Marin Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Stephens restated an “overweight” rating and set a $29.00 price target on shares of Bank of Marin Bancorp in a research note on Tuesday, January 27th. Weiss Ratings cut shares of Bank of Marin Bancorp from a “hold (c+)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Finally, Wall Street Zen downgraded Bank of Marin Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.60.

Bank of Marin Bancorp Stock Down 1.0%

Shares of NASDAQ:BMRC opened at $25.62 on Thursday. Bank of Marin Bancorp has a 1 year low of $19.14 and a 1 year high of $28.48. The company has a market capitalization of $413.21 million, a PE ratio of -11.35 and a beta of 0.89. The business has a fifty day moving average price of $25.86 and a two-hundred day moving average price of $25.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Marin Bancorp (NASDAQ:BMRC) last released its earnings results on Friday, March 13th. The bank reported $0.59 EPS for the quarter. The company had revenue of ($39.66) million for the quarter. Bank of Marin Bancorp had a positive return on equity of 6.16% and a negative net margin of 21.76%. Analysts forecast that Bank of Marin Bancorp will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in shares of Bank of Marin Bancorp by 33.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock valued at $39,000 after buying an additional 379 shares during the period. Quadrant Capital Group LLC grew its position in shares of Bank of Marin Bancorp by 17.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock valued at $72,000 after purchasing an additional 407 shares in the last quarter. State of Wyoming increased its holdings in shares of Bank of Marin Bancorp by 2.8% in the fourth quarter. State of Wyoming now owns 15,885 shares of the bank’s stock worth $413,000 after purchasing an additional 433 shares during the period. First Trust Advisors LP raised its position in shares of Bank of Marin Bancorp by 7.1% in the second quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after buying an additional 696 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in Bank of Marin Bancorp by 11.9% during the fourth quarter. Ieq Capital LLC now owns 9,556 shares of the bank’s stock valued at $249,000 after buying an additional 1,015 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp is the bank holding company for Bank of Marin, a community-oriented financial institution headquartered in Novato, California. Through its subsidiary, the company provides a broad range of banking services to individuals, small and medium-sized businesses, and nonprofit organizations. Its operating philosophy emphasizes personalized service and strong local relationships across the San Francisco North Bay region.

The company’s core product offerings include deposit accounts such as checking, savings, money market and time certificates of deposit.