Bank of Marin Bancorp (NASDAQ:BMRC) Given Average Rating of “Hold” by Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $28.40.

BMRC has been the topic of a number of recent research reports. Weiss Ratings cut Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Piper Sandler lowered their target price on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Stephens reiterated an “equal weight” rating and set a $26.00 target price on shares of Bank of Marin Bancorp in a report on Tuesday, May 5th. Keefe, Bruyette & Woods lowered their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, DA Davidson lowered their target price on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, April 28th.

Institutional Trading of Bank of Marin Bancorp

Several hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co lifted its stake in Bank of Marin Bancorp by 33.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,507 shares of the bank’s stock worth $39,000 after purchasing an additional 379 shares in the last quarter. Quadrant Capital Group LLC raised its position in Bank of Marin Bancorp by 17.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,753 shares of the bank’s stock worth $72,000 after purchasing an additional 407 shares during the period. State of Wyoming raised its position in Bank of Marin Bancorp by 2.8% in the 4th 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 Bank of Marin Bancorp by 7.1% in the 2nd quarter. First Trust Advisors LP now owns 10,536 shares of the bank’s stock worth $241,000 after purchasing an additional 696 shares during the period. Finally, Westmount Partners LLC boosted its stake in shares of Bank of Marin Bancorp by 0.8% during the first quarter. Westmount Partners LLC now owns 115,484 shares of the bank’s stock valued at $2,960,000 after purchasing an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Performance

Shares of BMRC opened at $26.28 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $26.00 and a two-hundred day moving average price of $26.19. The firm has a market capitalization of $425.47 million, a P/E ratio of -13.01 and a beta of 0.82. Bank of Marin Bancorp has a 52 week low of $21.21 and a 52 week high of $28.48.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, April 27th. The bank reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). Bank of Marin Bancorp had a positive return on equity of 7.20% and a negative net margin of 18.58%.The company had revenue of $34.14 million for the quarter, compared to the consensus estimate of $33.87 million. Equities analysts forecast that Bank of Marin Bancorp will post 2.21 earnings per share for the current fiscal year.

Bank of Marin Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. Bank of Marin Bancorp’s payout ratio is currently -49.50%.

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.