Bank of Marin Bancorp (NASDAQ:BMRC) Stock Has Consensus Price Target of $32.20 According to Brokerages

Bank of Marin Bancorp (NASDAQ:BMRC) has earned an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $32.20.

A number of analysts have recently weighed in on BMRC shares. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Piper Sandler reaffirmed a “neutral” rating and set a $29.00 price target (down from $30.00) on shares of Bank of Marin Bancorp in a research report on Thursday, October 1st. Keefe, Bruyette & Woods raised their price target on Bank of Marin Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Stephens boosted their target price on shares of Bank of Marin Bancorp from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $34.00 price target on shares of Bank of Marin Bancorp in a report on Tuesday, October 27th.

Bank of Marin Bancorp Trading Down 0.5%

Bank of Marin Bancorp stock opened at $28.44 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s 50 day moving average price is $27.55 and its 200-day moving average price is $26.87. Bank of Marin Bancorp has a 1 year low of $23.35 and a 1 year high of $30.92. The stock has a market cap of $460.44 million, a P/E ratio of -37.42 and a beta of 0.83.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings data on Monday, October 26th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $35.07 million during the quarter, compared to analyst estimates of $35.11 million. Bank of Marin Bancorp had a positive return on equity of 9.38% and a negative net margin of 6.48%. On average, equities analysts predict that Bank of Marin Bancorp will post 2.33 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 12th. Stockholders of record on Thursday, November 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, November 5th. Bank of Marin Bancorp’s dividend payout ratio is currently -131.58%.

Institutional Investors Weigh In On Bank of Marin Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Bank of Marin Bancorp in the second quarter valued at $44,326,000. The Manufacturers Life Insurance Company bought a new position in Bank of Marin Bancorp in the second quarter valued at $12,642,000. Heartland Advisors Inc. purchased a new stake in shares of Bank of Marin Bancorp in the 2nd quarter worth about $9,017,000. Algebris UK Ltd. purchased a new position in Bank of Marin Bancorp in the second quarter worth about $8,092,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Bank of Marin Bancorp by 1,025.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 142,731 shares of the bank’s stock valued at $3,865,000 after purchasing an additional 130,046 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.