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

Bank of Marin Bancorp (NASDAQ:BMRC) has been given an average rating of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $30.6667.

Several research firms have commented on BMRC. 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, May 16th. Piper Sandler reduced their price target on shares of Bank of Marin Bancorp from $30.50 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings upgraded shares of Bank of Marin Bancorp from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Zacks Research upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods dropped their target price on Bank of Marin Bancorp from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Bank of Marin Bancorp in the 2nd quarter valued at about $266,000. The Manufacturers Life Insurance Company boosted its holdings in Bank of Marin Bancorp by 1.9% during the first quarter. The Manufacturers Life Insurance Company now owns 458,812 shares of the bank’s stock worth $11,759,000 after buying an additional 8,758 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Bank of Marin Bancorp by 20.6% in the first quarter. Quantinno Capital Management LP now owns 59,476 shares of the bank’s stock valued at $1,524,000 after buying an additional 10,142 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Bank of Marin Bancorp by 25.3% during the first quarter. Renaissance Technologies LLC now owns 119,392 shares of the bank’s stock worth $3,060,000 after purchasing an additional 24,100 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Bank of Marin Bancorp by 142.0% in the first quarter. Sei Investments Co. now owns 22,011 shares of the bank’s stock worth $564,000 after buying an additional 12,914 shares during the period. Institutional investors own 52.26% of the company’s stock.

Bank of Marin Bancorp Stock Down 2.4%

BMRC opened at $28.41 on Thursday. Bank of Marin Bancorp has a 12 month low of $21.77 and a 12 month high of $30.92. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $459.96 million, a P/E ratio of -31.22 and a beta of 0.81. The stock’s 50 day moving average price is $27.19 and its 200 day moving average price is $26.41.

Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings results on Monday, July 27th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Bank of Marin Bancorp had a positive return on equity of 8.44% and a negative net margin of 7.98%.The company had revenue of $33.95 million during the quarter, compared to analyst estimates of $34.02 million. As a group, research analysts predict that Bank of Marin Bancorp will post 2.19 earnings per share for the current year.

Bank of Marin Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. Bank of Marin Bancorp’s dividend payout ratio (DPR) 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.