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

Shares of Bank of Marin Bancorp (NASDAQ:BMRC) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $28.40.

BMRC has been the topic of a number of research analyst reports. Zacks Research cut shares of Bank of Marin Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. DA Davidson dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods dropped their price target on shares of Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings cut shares of Bank of Marin Bancorp from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday.

Institutional Investors Weigh In On Bank of Marin Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC acquired a new stake in Bank of Marin Bancorp during the 4th quarter worth $31,000. Russell Investments Group Ltd. boosted its stake in Bank of Marin Bancorp by 2,543.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,269 shares of the bank’s stock worth $31,000 after purchasing an additional 1,221 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Bank of Marin Bancorp by 33.6% during 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 during the last quarter. Tower Research Capital LLC TRC boosted its stake in Bank of Marin Bancorp by 124.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,875 shares of the bank’s stock worth $43,000 after purchasing an additional 1,040 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in 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 worth $72,000 after purchasing an additional 407 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Bank of Marin Bancorp Price Performance

Bank of Marin Bancorp stock opened at $25.42 on Friday. The company’s fifty day moving average price is $25.47 and its 200 day moving average price is $26.18. Bank of Marin Bancorp has a 1 year low of $20.25 and a 1 year high of $28.48. The stock has a market capitalization of $411.55 million, a P/E ratio of -12.58 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70.

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

Bank of Marin Bancorp Dividend Announcement

The firm 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. This represents a $1.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, May 7th. Bank of Marin Bancorp’s payout ratio is -49.50%.

About Bank of Marin Bancorp

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.