Piper Jaffray Companies Reiterates Hold Rating for Bank of Marin Bancorp (BMRC)
Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “hold” rating reaffirmed by investment analysts at Piper Jaffray Companies in a research report issued on Tuesday. They currently have a $75.00 price target on the bank’s stock. Piper Jaffray Companies’ price target points to a potential upside of 9.81% from the company’s current price.
A number of other brokerages have also recently issued reports on BMRC. BidaskClub cut shares of Bank of Marin Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research raised shares of Bank of Marin Bancorp from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Wednesday, October 25th. DA Davidson reissued a “hold” rating and issued a $72.00 price objective on shares of Bank of Marin Bancorp in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $74.00 price objective on shares of Bank of Marin Bancorp in a research note on Friday, December 22nd. Finally, ValuEngine raised shares of Bank of Marin Bancorp from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.80.
Shares of Bank of Marin Bancorp (NASDAQ BMRC) opened at $68.30 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $419.18, a price-to-earnings ratio of 20.45, a PEG ratio of 1.67 and a beta of 0.80. Bank of Marin Bancorp has a 52 week low of $59.05 and a 52 week high of $77.90.
Bank of Marin Bancorp (NASDAQ:BMRC) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The firm had revenue of $20.85 million during the quarter, compared to analysts’ expectations of $20.71 million. Bank of Marin Bancorp had a net margin of 24.74% and a return on equity of 8.85%. research analysts anticipate that Bank of Marin Bancorp will post 3.27 EPS for the current year.
In related news, Director Leslie E. Murphy bought 3,676 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average cost of $68.00 per share, with a total value of $249,968.00. Following the completion of the purchase, the director now owns 3,936 shares of the company’s stock, valued at approximately $267,648. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.17% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Bank of Marin Bancorp during the third quarter valued at $113,000. Aperio Group LLC purchased a new position in Bank of Marin Bancorp during the third quarter valued at $205,000. Cornerstone Capital Management Holdings LLC. grew its stake in Bank of Marin Bancorp by 42.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 4,673 shares of the bank’s stock valued at $286,000 after acquiring an additional 1,400 shares in the last quarter. PDT Partners LLC purchased a new position in Bank of Marin Bancorp during the second quarter valued at $357,000. Finally, Alliancebernstein L.P. grew its stake in Bank of Marin Bancorp by 29.5% during the second quarter. Alliancebernstein L.P. now owns 6,590 shares of the bank’s stock valued at $406,000 after acquiring an additional 1,500 shares in the last quarter. 45.95% of the stock is owned by institutional investors.
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About Bank of Marin Bancorp
Bank of Marin Bancorp (Bancorp) is the holding company for Bank of Marin (the Bank). The Company’s business banking focus is on small to medium-sized businesses, professionals and not-for-profit organizations. The Company operates through 23 offices in Marin, Sonoma, San Francisco, Napa and Alameda counties.
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