Zacks Investment Research upgraded shares of Bank of Marin Bancorp (NASDAQ:BMRC) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $50.00 price objective on the bank’s stock.

According to Zacks, “Bank of Marin is a California State chartered bank. “

Several other research firms also recently weighed in on BMRC. BidaskClub raised shares of Bank of Marin Bancorp from a sell rating to a hold rating in a research note on Tuesday, October 22nd. ValuEngine downgraded shares of Bank of Marin Bancorp from a sell rating to a strong sell rating in a research note on Thursday, September 5th.

Bank of Marin Bancorp stock opened at $45.72 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $628.18 million, a PE ratio of 19.62 and a beta of 0.55. The firm has a fifty day simple moving average of $44.90 and a two-hundred day simple moving average of $42.62. Bank of Marin Bancorp has a twelve month low of $38.00 and a twelve month high of $46.85.

Bank of Marin Bancorp (NASDAQ:BMRC) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.08. The business had revenue of $26.87 million during the quarter, compared to the consensus estimate of $26.19 million. Bank of Marin Bancorp had a net margin of 31.54% and a return on equity of 10.73%. As a group, equities analysts expect that Bank of Marin Bancorp will post 2.44 earnings per share for the current fiscal year.

In other Bank of Marin Bancorp news, CEO Russell A. Colombo sold 1,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $45.73, for a total value of $45,730.00. Also, Director Norma J. Howard sold 1,430 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $45.93, for a total transaction of $65,679.90. Insiders sold 19,814 shares of company stock valued at $871,300 over the last three months. 5.29% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its stake in shares of Bank of Marin Bancorp by 50.1% during the third quarter. Squarepoint Ops LLC now owns 7,686 shares of the bank’s stock valued at $319,000 after acquiring an additional 2,565 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Bank of Marin Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 20,859 shares of the bank’s stock valued at $865,000 after acquiring an additional 249 shares during the last quarter. State Street Corp raised its stake in shares of Bank of Marin Bancorp by 1.7% during the third quarter. State Street Corp now owns 286,009 shares of the bank’s stock valued at $11,867,000 after acquiring an additional 4,891 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Bank of Marin Bancorp by 28.2% during the third quarter. Russell Investments Group Ltd. now owns 17,405 shares of the bank’s stock valued at $724,000 after acquiring an additional 3,829 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Bank of Marin Bancorp by 16.3% during the third quarter. California Public Employees Retirement System now owns 35,247 shares of the bank’s stock valued at $1,462,000 after acquiring an additional 4,950 shares during the last quarter. 44.28% of the stock is owned by hedge funds and other institutional investors.

Bank of Marin Bancorp Company Profile

Bank of Marin Bancorp operates as the holding company for Bank of Marin that provides a range of financial services primarily to professionals, small and middle-market businesses, individuals, and not-for-profit organizations in California, the United States. The company offers personal and business checking and savings accounts; and time certificates of deposit, individual retirement accounts, health savings accounts, and demand deposit marketplace accounts, as well as certificate of deposit account registry and insured cash sweep services.

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